Brazil Swap Rates Fall Before Central Bank Decision; Real Drops
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Brazil’s swap rates declined on speculation the central bank will signal tomorrow a slowdown in borrowing cost increases over coming months.
Swap rates on contracts due in January 2015 fell six basis points, or 0.06 percentage point, to 10.83 percent, the biggest drop in a week. The real depreciated 0.2 percent to 2.2947 per U.S. dollar.