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 swap rates climbed as U.S. employment gains prompted traders to step up wagers that the South American country’s central bank will seek bigger increases in borrowing costs as it tries to contain inflation.