Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Steve Fancy who wrote (1699)	4/15/1998 6:49:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil cenbank cuts TBC prime rate to 23.25 pct Reuters, Wednesday, April 15, 1998 at 18:43 BRASILIA, April 15 (Reuters) - Brazil's central bank cut its prime interest rate, known as the TBC, to an annualized 23.25 percent from 28 percent, a bank official said Wednesday. The cut was in line with the expectations of economists, who had said the central bank would trim the TBC to about 23 percent. The basic assistance rate, TBAN, was also cut to 35.25 percent from 38 percent, the official said. The central bank has steadily reduced its prime lending rate since jacking it up to 43 percent last October in a move to ward off speculative attacks on Brazil's real currency amid the escalation of Asia's financial crisis. Economists said Tuesday that a combination of rising hard currency reserves and sluggish economic activity would support a cut, though continued uncertainty abroad would limit any reduction to about 23 percent. tracey.ober@reuters.com)) Copyright 1998, Reuters News Service