Read the text below in order to answer questions 25
to 28:
Brazil's Central Bank Rate Vote Underscores
Division
Two of the Brazilian central bank's nine-member
board called for a smaller interest rate cut last week
than policy makers approved, underscoring
disagreement over the pace of a recovery in Brazil
and its effect on inflation.
The vote, the first show of dissent since Henrique
Meirelles became the bank's president, may signal
that the bank may be less inclined to lower the
benchmark lending rate in coming months after
cutting it six times since June.
The board said in minutes of the meeting
distributed today that its vote to lower the overnight
target rate to 17.5 percent from 19 percent was aimed
at giving a boost to an economy that suffered its
biggest back-to-back quarterly contractions in seven
years between April and September.
Internet : www.bloomberg.com
Accessed in Nov/2003
The text