Brazil Keeps Floating Rates ����Brazil has decided to keep a long-term floating exchange rate for its currency real against US dollar and other foreign currencies, according to a communique issued by its central bank on January 18. ����Brazilian real will its exchange rate market regulated from now, the communiqu�� said, noting that only when the exchange rate of real to US dollar floats too much, the central bank will intervene in a limited and temporary way. ����*Brazil's top financial officials met Sunday with US officials, seeking ways to keep Latin America's largest economy from succumbing to an Asian-style currency crisis. ����Brazilian Finance Minister Pedro Malan and central bank president Francisco Lopes met US Deputy Treasury Secretary Lawrence Summers. ����The two Brazilian officials also met officials at the International Monetary Fund (IMF) and the World Bank on Saturday and Sunday. ����Officials described the talks as a wide-ranging review of steps Brazil has already taken and what needs to be done to calm investor unease. ����Malan told reporters that Brazil would ask for early release of next installment of the US$41.5 billion rescue package that the IMF put together for Brazil in November. ���� ���� ���� ���� Economicnews 1999-01-19 Page7 Full Story in Chinese