Brazil's swaps drop amid lowered inflation outlook

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Source: Bloomberg
© Scanpix/RS
Brazilian swap rates declined on Monday after the country's central bank released a survey showing that the inflation outlook for 2014 was lowered adding to a forecast expecting the pace of growth in borrowing costs may slow down. Swap rates due in January 2017 fell three basis points to 11.25% by 11:08 a.m. Sao Paulo time, the weakest level since September 25.

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