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 (12022)	1/19/1999 10:39:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Malan says not disappointed with reaction to rates Reuters, Tuesday, January 19, 1999 at 11:24 WASHINGTON, Jan 19 (Reuters) - Brazilian Finance Minister Pedro Malan said on Tuesday he was not disappointed with the way financial markets reacted to a rise in the country's key interest rate to defend its newly floated real currency. Asked by reporters whether he was disappointed with the market's reaction, he replied: "No." Malan, speaking after a meeting at the International Monetary Fund's headquarters, declined to say whether rates would rise further. The Brazilian Central Bank raised the country's key interest rate to 41 percent from 29 percent after Malan signaled that higher rates may be needed in the short term to fend off market pressures and encourage investors to keep their capital within Brazil. 898-8383, washington.economic.newsroom@reuters.com)) Copyright 1999, Reuters News Service