By Adam Haigh
March 26 (Bloomberg) -- Brazilian equities were downgraded to ``underweight'' by UBS AG strategists including London-based Oussama Himani, who cited ``interest-rate cycle headwinds'' in a report to clients today.
Growth in Latin America's biggest economy has been supported by record-low interest rates and wage increases, which are fueling demand for goods such as cars, homes and electronics.
In the first week of March, the country's central bank considered raising interest rates to stem inflation for the first time since ending two years of cuts in October, according to minutes of the meeting released March 13.
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