Brazil’s Swap Rates Advance as Central Bank Eases Credit Rules
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Brazil’s swap rates advanced today as the central bank eased reserve-requirement rules in a bid to boost credit amid a faltering economy.
Swap rates on contracts maturing in January 2017, a gauge of expectations for interest rates moves, advanced six basis points, or 0.06 percentage point, to 11.42 percent. The real declined 0.7 percent to 2.2620 per dollar after Fed officials said job gains in the U.S. may result in faster interest rate increase.