Stories for June 19th 2003

Thursday, June 19th 2003 - 21:00 UTC
Brazil reduces basic interest rate.

After two days of deliberations Brazil's Central Bank Monetary Policy Committee, COPOM, reduced the Selic basic interest rate half a point to 26%. The much expected announcement was interpreted as a clear signal that after almost a year of persistent steady prices, inflation had reached its inflexion point and has began a moderate slide.
Thursday, June 19th 2003 - 21:00 UTC
Mercosur target: single market by 2006.

Under the undisputed leadership of Brazil and Argentina, Mercosur members, associate members Chile and Bolivia, and as special guest Venezuela, the South American trade block celebrated the XXIVth presidential summit in Asunción, Paraguay with the commitment to strengthen the political agenda and expand regional integration creating a genuine single market by 2006.

Brazil reduces basic interest rate.