Brazil's Bonds Soar After Central Bank Dissenters Push for Bigger Rate Cut

(Bloomberg) -- Brazilian real-denominated bonds posted their biggest gain in seven months after the central bank signaled it may quicken the pace of interest-rate reductions.

The yield on the government's benchmark zero-coupon bond due in January 2008 dropped 19 basis points to a record low of 11.72 percent after three of the central bank's seven directors pushed for a bigger cut than the quarter percentage point reduction carried out last night. The dissenters voted for a half-point cut, to 12.25 percent.


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