Brazilian inflation quickened more than expected through mid-September, boosting expectations that the central bank will raise interest rates in the first half of 2011. Yields rose.
Brazil’s central bank set reserve requirements on short dollar positions held by local banks in its third attempt since October to stem a rally in the currency. The real fell for a third consecutive day.
Brazil economists reduced their estimates for inflation and the central bank’s benchmark lending rate after consumer prices were little changed in June.
"This suggests that the fourth quarter started out on the wrong foot."
- Andre Perfeito on Dec 15, 2014