Brazilian Swap Rates Rise After Central Bank Signal; Real Falls
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Brazilian swap rates climbed the most in a week after the central bank raised borrowing costs by a half-percentage point and signaled that it will maintain the pace of increases.
Swap rates on contracts maturing in January 2015 rose 23 basis points, or 0.23 percentage point, to 10.41 percent. The real slid 0.6 percent to 2.3595 per dollar after dropping Aug. 21 to a four-year low of 2.4543.