Read the text below in order to answer questionBrazil'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/2003In paragraph 3, the author refers to
a) the present Brazilian economic boom.
b) an interest rate increase of 1.5%.
c) consecutive economic contractions.
d) the highest interest rate increase since April.
e) a coming decision to lower target rates.