FRIDAY, MAY 9, 2014

8:03 EDT – Banco Santander expects a combination of higher interest rates, lower business and consumer confidence, a weak credit market, energy supply restrictions and a likely drag from the Soccer World Cup, to cut into Brazil’s economic growth over the next two years. Santander sees Brazil’s economy expanding by just 1.3% in 2014 and 2015 versus the previous view of 1.7% growth this year and 1.5% expansion next year. By comparison, Brazil’s economy increased 2.3% in 2013.