SAO PAULO – Private sector analysts have revised their 2014 growth forecasts for Brazil’s economy downward to 1.62 percent from 1.69 percent last week, the Central Bank said on Monday.

Analysts revised their 2014 inflation estimate upward to 6.43 percent from 6.39 percent, while the 2015 inflation forecast remains at 6 percent.

The gross domestic product (GDP) and inflation estimates were included in the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.

Brazil’s government has an inflation target of 4.50 percent for this year, with a 2 percent band that allows a top-end rate of 6.50 percent.

Analysts revised their GDP forecast for 2015 upward from 1.90 percent to 2 percent.