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: wl9839 who wrote (15388)	5/19/1999 10:59:00 AM
From: Steve Fancy	Respond to of 22640

Brazil Fipe inflation slows in month to May 14 ReutersPlus, Wednesday, May 19, 1999 at 06:30 SAO PAULO, May 19 (Reuters) - Inflation in Brazil's industrial heartland of Sao Paulo slowed again for the month ending May 14, although consumer prices were still up by 0.12 percent, a research group said on Wednesday. The closely watched Fipe consumer price index had climbed 0.35 percent in the previous four-week period, the University of Sao Paulo's Economic Research Institute (Fipe) said. After spiking at 1.41 percent in February following a 35 percent-plus currency devaluation, Sao Paulo's inflation began to slow in the first week of March. Slowing inflation boosted the real, which has now recovered to about 1.65 per dollar from a record low of 2.22 per dollar in early March. The slowdown has also led the Central Bank steadily to lower the market's key Selic interest rate. Fipe forecasts inflation of about seven percent in 1999 after deflation of 1.8 percent in 1998. A jump in clothing prices as stores launch their autumn and winter fashion lines has fuelled inflation in recent weeks. The Fipe index measures consumer prices in greater Sao Paulo. The institute released the following breakdown of its weighted inflation index for the month to May 14. - Food 1.68 pct fall - Housing 0.42 pct rise - Transportation 0.76 pct rise - Personal Expenses 0.13 pct rise - Clothing 4.12 pct rise - Health Care 1.32 pct rise - Education 0.28 pct rise rio.newsroom@reuters.com)) Copyright 1999, Reuters News Service

To: wl9839 who wrote (15388)	5/19/1999 11:00:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil shares seen buoyed by local rate cut hopes Reuters, Wednesday, May 19, 1999 at 09:06 SAO PAULO, May 19 (Reuters) - Brazilian shares were expected to post gains at the start on optimism the Central Bank would trim its Selic reference rate at its monetary policy committee meeting on Wednesday, traders said. Sao Paulo's benchmark Bovespa stock index (INDEX:$BVSP.X) closed 0.96 percent higher at 12,268 points Tuesday rallying back on the domestic rate cut hopes after a slump caused by news of a Federal Reserve bias toward raising U.S. rates if needed. In general, however, Brazil's market was relieved the Fed, as the U.S. central bank is known, did not raise rates because of recent inflation data at its Open Committee Meeting Tuesday. "The market should open with gains on the expectations of the rate cut today. In relation to the Fed decision yesterday, investors have assimilated it well," one trader said. Analysts say Brazil's Monetary Policy Committee (Copom) is likely to lower the Selic to between 24 and 25 percent from the current 27 percent. The Copom starts at 4 p.m. (1900 GMT). The Central Bank has already cut the Selic from 45 percent over the last two months amid optimism Brazil has turned the corner on a currency crisis that hit in mid-January. The Bovespa has been boosted by that optimism recently, gaining 8 percent to date in May. rio.newsroom@reuters.com)) Copyright 1999, Reuters News Service