Brazilian central bank board member Carlos Hamilton so disagreed with a surprise interest-rate cut in August that he slammed phones and stomped through hallways, according to three bank officials familiar with his reaction.
The data docket in the U.S. this week will be eclipsed by the Federal Reserve meeting as prospects mount that policy makers will trim stimulus in response to an improving economy. Elsewhere, November price data out of the U.K. will probably show inflation is cooling toward the Bank of England’s target, German companies gained confidence in December and inflation in Brazil picked up through the middle of this month.
Brazil is the only so-called BRIC emerging economy where companies not owned by the government, such as Credit Suisse Group AG and Grupo BTG Pactual, still earn the most investment-banking fees. That may soon end.
The freefalling Brazilian real is unintentionally creating a boon for soccer fans seeking tickets to next year’s World Cup, with the currency’s tumble opening up a 20 percent difference between local and overseas prices.
Barbados dollar bond yields traded at record highs for a third day as the government pledged to start firing 3,000 public workers and the International Monetary Fund urged the Caribbean island to rein in spending.
Credit Suisse Group AG and JPMorgan Chase & Co. are selling to investors through pass-through notes a $1.27 billion loan made to the Brazilian state of Minas Gerais, according to people familiar with the matter.