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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Brian Fraser who wrote (32514)	9/10/1998 11:05:00 PM
From: Kathleen capps	Read Replies (1) \| Respond to of 132070

Thursday September 10, 10:10 pm Eastern Time Brazil raises interest rates to plug dollar outflows SAO PAULO, Sept 10 (Reuters) - Brazil on Thursday raisedinterest rates to nearly 50 percent in a bid to plug massive dollar outflows from its financial markets, the Central Bank said. The Central Bank hiked its basic assistance rate Tban to an annual 49.75 percent from 29.75 percent, a bank spokesperson told Reuters. The move came after Brazil's foreign exchange markets saw a huge drain of dollars, estimated at over $2 billion, on Thursday, after losing more than $8 billion in the first 10 days of September.