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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.511

+2.0%

Jan 14 3:50 PM EST

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To: Steve Fancy who wrote (8862)	10/6/1998 10:28:00 AM
From: Steve Fancy	Read Replies (2) of 22640

Portugal De Sousa To Hold Press Conference At 2000 GMT Dow Jones Newswires WASHINGTON -- Portugese Central Bank Governor Antonio de Sousa will hold a press conference at 2000 GMT here in Washington, the central banker said Tuesday De Sousa declined to comment from questions on Dow Jones Newswires on Spain's decision to trim its repurchase rate to 3.75% from 4.25%. He also declined to comment on the rate outlook for Portugal. The next opportunity for any Bank of Portugal rate cut would be Friday. De Sousa who is attending the joint annual International Fund and World Bank meeting, earlier told journalists that he expected euro zone interest rates to converge on the core rates in the region. The euro zone's core members, Germany and France, currently have their repo rates at 3.3%. The 11-member euro zone will have to have a common short-term interest rate by Jan. 1, 1999 when the euro is formally established.

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