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

To: TOPSID877 who wrote (1559)	4/9/1998 1:50:00 PM
From: Steve Fancy	Respond to of 22640

Brazil rates to fall to 24 pct next week -Garantia Reuters, Thursday, April 09, 1998 at 07:15 LONDON, April 9 (Reuters) - Brazilian interest rates are likely to fall by four percentage points to 24 percent next week, investment bank Garantia said on Thursday in a note released in London. Central Bank policy-makers meet on April 15 to set Brazil's prime lending rate, now at an annualised 28 percent. Finance Minister Pedro Malan said in London last week that rates would be cut again on April 15, but he declined to say by how much. Rates have fallen steadily since October, when the central bank raised them to 43 percent at the height of the Asian crisis. Confidence in a further rate cut has been fuelled by record dollar inflows in the last two months. That has more than replenished foreign reserves, which rose to a record $65 billion at the end of March after falling to $51 billion during the Asian crisis. 7239, uk.emergingmarkets.news@reuters.com)) Copyright 1998, Reuters News Service