Brazil’s swap rates climbed to a the highest since 2011 after central bank President Alexandre Tombini said policy makers will fight inflation as the real weakens, reviving speculation it will extend increases in borrowing costs.
A handful of people have shaken off the wet snow and entered the Bilia car dealership in Stockholm. They’re far outnumbered by the gleaming Volvos, Fords and Renaults. They’re not eager to strike a deal.
Brazil’s real fell as concern the global recovery is slowing overshadowed speculation the government may postpone measures to curb the currency’s gain over the past three months after yesterday’s presidential election failed to produce a winner.