BRASIL: C.Bank Drops Benchmark To 11.5%..As Global Economy Slows.

                                             BBC/ With BLOOMBERG Quote

     Despite a worrisome rising inflation rate...the central bank voted unanimously to lower the SELIC interest rate by 50 bps...from 12%...to 11.5%
     It also cut the rate in late August...after raising it 5 times in 2011.
     In September inflation there rose...to 7.3%...the highest in 6 years.
     Also in September...the bank cut its 2011 economic forecast to 3.5%...less than half 2010's 7.5% rate.
     The real fell to $1.8071...from $1.7740 per usd yesterday.
     The bank's statement didn’t include “any message signaling an acceleration of rate cuts,” said a leading economist. “It was a hawkish message.”