May 21, 2018 / 7:43 PM / 3 months ago

Brazil sees no need for intervention in rate futures -source

BRASILIA, May 21 (Reuters) - The Brazilian government sees no need to intervene in the interest rate futures market to stem a recent selloff, a government source told Reuters on Monday, but it could reduce the supply of local notes in scheduled auctions or call them off if need be.

Finance Minister Eduardo Guardia said on Monday that the central bank and Treasury could potentially act jointly to offset excessive volatility in financial markets. The source, who requested anonymity due to the sensitivity of the matter, said interest rate futures markets have already reached a new equilibrium without additional action from the Treasury. (Reporting by Patricia Duarte; Writing by Bruno Federowski Editing by Leslie Adler)

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