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To: Haim R. Branisteanu who wrote (46060)2/3/2009 1:12:25 AM
From: elmatador  Read Replies (1) of 219646
 
Brazil will lower interest rate to 9.75% by mid-09 vs earlier forecast 11.75%.

First time in 35 years low inflation and low interest rates combines for perfect storm.

We've got ammo. Once it loaded and the guns are ablaze do not stay closer...

Morgan Stanley Revises Brazil Rate-Cut Forecast to 9.75 Percent
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By Lester Pimentel

Feb. 2 (Bloomberg) -- Morgan Stanley said Brazil will lower is benchmark interest rate to 9.75 percent by mid-2009, revising its earlier forecast that the country would cut the rate to 11.75 percent.

Brazil’s central bank will reduce its lending rate by 100 basis points in each of its next three policy-setting meetings from 12.75 percent, said Marcelo Carvalho, Morgan Stanley’s chief economist for Brazil.

Colombia’s central bank will lower its key lending rate to 6 percent from 9 percent, said Boris Segura, a Latin America economist at Morgan Stanley in New York. The firm previously forecast the rate would be cut to 8 percent by year-end.

To contact the reporter on this story: Lester Pimentel in New York at lpimentel1@bloomberg.net

Last Updated: February 2, 2009 11:24 EST
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