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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (1119)	3/4/1998 4:35:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil Cenbank cuts TBC prime rate to 28 pct Reuters, Wednesday, March 04, 1998 at 16:30 BRASILIA, March 4 (Reuters) - Brazil's Central Bank cut its prime lending rate, known as the TBC, to an annualized 28 percent, down from 34.5 percent, a Central Bank official said Wednesday. The cut was bigger than expected by most economists who expected a reduction to around 30 percent. The basic assistance rate, TBAN, was also cut to 38 percent from 42 percent, the official said. In a move to ward off speculative attacks on the real currency amid Asia's crisis last October, the Central Bank nearly doubled the TBC to 43 percent. It has been reducing the rate steadily ever since. william.schomberg@reuters.com)) Copyright 1998, Reuters News Service