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.
"This decision is in line with a more austere economic policy, where the subsidies for public banks loans tend to reduce."
- Andre Perfeito on Dec 19, 2014