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To: yard_man who wrote (5964)	9/14/1998 10:23:00 PM
From: Joseph G.	Read Replies (3) of 86076

I hope everybody remembers what happened after Russia raised its rates to 60% couple of months ago. Now Bra, Chi, Arg etc. all have ~ 50% rates ... Mex only [-g-] 30% I guess ... <<SANTIAGO, Sept 14 (Reuters) - Chilean stocks ended lower on Monday as interest rates soared, traders said. The IPSA index of the leading 40 stocks dropped 1.18 percent to end at 54.55 points, and the IGPA gauge slipped 1.01 percent to 2973.92 points. The rise in interest rates provided a safe haven for investors who normally sink their money into stocks but have been scared off by global economic turmoil, traders said. The overnight interbank lending rate jumped to an average nominal monthly 4.17 percent compared with Thursday's 3.49 percent. Financial markets were closed on Friday for a national holiday. The central bank aims for the overnight lending rate to be an annual real eight percent, but Monday's close put it far above that at an average annual real 57.5 percent. The three-month deposit finished with an average annual real yield of 17.50 percent against Thursday's 16 percent.>>

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