Venezuela c bank rejects interest rate demands

Demands from President Hugo Chavez that the central bank of Venezuela reduce interest rates have been rejected. A director at the bank said pressure to impose rates would be resisted.

Source: Associated Press

Venezuela's Central Bank has rejected President Hugo Chavez's demand that it impose lower interest rates on private banks.

The Central Bank won't accept "pressure from anyone" to impose rates, director Domingo Maza Zavala said in comments published in Friday's El Universal newspaper. On We