Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 1.005

-6.9%

Nov 19 3:59 PM EST

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To: Steve Fancy who wrote (7911)	9/11/1998 5:54:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Brazil's Cntrl Bk: No Curbs On Floating-Dlr Mkt - Estado Dow Jones Newswires RIO DE JANEIRO -- A Central Bank of Brazil official said Friday the government is not considering curbs on the floating-rate dollar market nor restrictions on imports, the Estado news agency reported. Some market participants believe the government may be forced to take one or both measures to staunch capital flight. "There is no such thing," said Maria do Socorro de Carvalho, head of the reserves department. "We've chosen to work with classic orthodox policies, such as boosting interest rates." At 2100 GMT Friday, preliminary central bank figures showed Brazil's exchange markets registering an outflow of $855 million. On Thursday, outflow reached $1.8 billion, bringing September remittances to $11 billion. -By Geraldo Samor; 55-21-580-9394; gsamor@ap.org

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