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To: Lee who wrote (86696)	12/23/1998 8:51:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

<Latam Economy> Chile cuts interest rates. 'morning Lee: Looks like it is 'steady as she goes' for Chile. Wednesday December 23, 8:11 am Eastern Time Chilean key stocks open higher after rate cut SANTIAGO, Dec 23 (Reuters) - Key Chilean stocks opened higher Wednesday in what traders said was a positive response to overnight news that the Central Bank had cut key interest rates. The benchmark index of 40 key stocks was up 1.17 percent to 79.25 after 30 minutes of trading. The wider gauge was up 0.39 percent at 3657.19. On Tuesday night, Chile's Central bank slashed its key interbank interest rate target to an inflation-adjusted 7.8 percent from 8.5 in what was widely seen as a bid to stop the economy from grinding to a halt and slipping into recession.