Brazil Outstanding Loans Rose at Second-Fastest Pace of Year

Brazilian bank lending rose at the second-fastest pace this year in November as banks charged the lowest lending rate in nine months after the central bank cut borrowing costs.

Outstanding credit climbed 1.9 percent last month to 1.98 trillion reais ($1.07 trillion), led by an increase in lending to companies, the central bank said in a report distributed today in Brasilia. The average rate banks charged for loans fell to 38.5 percent, the lowest level since February, spurring demand for credit.