The space for applying "unorthodox policies" in Brazil is limited and the market will punish unusual economic experiments, the chief economist of Swiss bank UBS, Paul Donovan, said in an interview with newspaper Valor Econômico published on Wednesday. Brazil should be able to endure a period of global slowdown and monetary tightening thanks to a strong dollar and high commodity prices, Donovan said, in what appeared to be a warning to the pro-spending incoming government of leftist President-elect Luiz Inacio Lula da Silva.
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