Fraga - Single digit real interest rates feasible

BRAZIL - Central Bank Chairman Arminio Fraga said it is feasible for the next administration to achieve single-digit real interest rates, official news agency Agencia Brasil reported.

Fraga added however that for interest rates to reach this level, the next government will have to comply with the law on fiscal responsibility, markets must remain stable and inflation must continue its downward trend.

He said that the central bank's monetary policy committee - which meets later today and tomorrow