EMERGING MARKETS-Brazil real, rates slide after disappointing GDP
RIO DE JANEIRO |
RIO DE JANEIRO Nov 30 (Reuters) - Brazil's currency and interest rate futures slid early on Friday after data showed the country's economy grew only half that expected by economists in the third quarter, suggesting the government may resort to a weaker currency and low interest rates to prop up economic activity.
The Brazilian real fell about half a percentage point to 2.1064 per dollar after the government statistics agency IBGE said gross domestic product expanded 0.6 percent in the third quarter from the second quarter.
Economists expected the economy to grow 1.2 percent in that comparison.
Interest-rate futures also dropped sharply at the BM&FBovespa exchange. The contract maturing in January 2014 , one of the most traded, fell 5 basis points to 7,26 percent.
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