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RIO DE JANEIRO, BRAZIL - Loan defaults in Brazil fell to historic lows in October, figures showed on Friday, November 26th, in further evidence of the economy’s recovery and that the Central Bank’s steps to loosen financial conditions were working.

Key measures of household and business loan defaults were their lowest since the Central Bank’s data series began in 2011, although lending spreads widened slightly from the previous month’s record lows.

A broad 90-day default ratio covering households and businesses fell to 3.1% in October from 3.2% in September, the bank said, the lowest . . .

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