Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 1.065

-2.3%

Nov 17 3:59 PM EST

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To: Steve Fancy who wrote (7856)	9/11/1998 11:43:00 AM
From: MGV	Read Replies (4) of 22640

The decision came just hours after President Fernando Henrique Cardoso told reporters that, if it depended on him, interest rates wouldn't go up any further because they are already too high. Minutes before the Central Bank's announcement, radio stations were still broadcasting those comments, which Cardoso, who's up for re-election Oct. 4, made even as local stock exchanges plunged 15%. This was a gutsy turnaround. (and a needed one, unfortunately) Now Brazil needs the one round win on 10/4 to provide the mandate for SS reform and then get it done. If that happens guys, there would be a surge easily to BV in my opinion.

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