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Brazil Cuts Rate in Loans to Manufacturers to 8%

(Corrects headline and first paragraph to say the country cut the rate of an existing lending program.)

July 5 (Bloomberg) -- Brazil’s national monetary council lowered interest rates to 8 percent from 9 percent on a credit line of 6.7 billion reais of the Revitaliza program, which funds exports and investment in 20 manufacturing industries, according to a statement from the central bank.

The funds of the program are released by the country’s national development bank, or BNDES, according to the statement.

To contact the reporter on this story: Helder Marinho in Sao Paulo at hmarinho@bloomberg.net

To contact the editor responsible for this story: Fabiola Moura at fdemoura@bloomberg.net

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