Brazil loan defaults hit two-year high in October
BRASILIA Nov 27 (Reuters) - Bank loans delinquent for at least 90 days in Brazil edged up slightly in October to their highest in two years, the central bank said on Friday, as rising unemployment and borrowing costs kept companies and consumers from staying current on their debt.
The so-called 90-day default ratio, a benchmark for delinquencies, came in at the equivalent of 5.0 percent of outstanding non-earmarked loans last month, according to a central bank report. October's number was the highest for the ratio since October 2013, when it also reached 5 percent. (Reporting by Marcela Ayres; Writing by Silvio Cascione; Editing by Chizu Nomiyama)
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