Brazil's Swaps Tumble as Central Bank Said to Consider Selic Cut

Updated on
  • Policy makers said to contemplate lower rates amid recession
  • Borrowing costs are currently at highest level since 2006

Brazilian swap rates, a measure of traders’ expectations of future borrowing costs, declined to a five-month low on speculation the central bank is considering an interest-rate cut to spur a rebound of Latin America’s largest economy.

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