Brazil could lower interest rates Wed - Cardoso
Reuters, Wednesday, September 02, 1998 at 15:54
BRASILIA, Sept 2 (Reuters) - Brazil could lower interest
rates, including the prime lending rate, at a meeting of the
Central Bank's monetary policy committee Wednesday, President
Fernando Henrique Cardoso said.
"It is possible that rates could fall today," Cardoso said
at a ceremony in Brasilia to inaugurate an agribusiness council.
The prime lending rate currently stands at an annualized
19.75 percent. Economists said they expected the rate to fall
to 19 percent, despite recent global market turmoil, in line
with the overnight rate currently used in local markets.
The Central Bank's monetary policy committee was due to
meet later Wednesday. It will also decide whether to change its
basic assistance rate, currently at 25.75 percent a year.
joelle.diderich@reuters.com))
Copyright 1998, Reuters News Service
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