São Paulo, 12/10/2003 (Agência Brasil - ABr) - The president of the banking federation (Federação Brasileira de Bancos) (Febraban), Gabriel Jorge Ferreira, says he believes credit will be easier in 2004, with more demand for credit as a result of economic improvement. "We see sustainable renewed growth in 2004. Inflation is under control and interest rates are on a downward trend. That translates into greater demand for credit," he explained.

Ferreira said the 0,5% drop in industrial output can be reverted quickly under improved economic conditions. He concluded by saying the real interest rate should be between 7.5¨and 8% by the end of next year. (AB)