The noises could be the activation of the ABS/STC system (When it is not needed).
When the noises are present, do you feel a pulsation on the brake pedal?
Every time you start the car and drive it over 14 MPH the ABS system performs a self test to make sure all the components are working. Usually the self test is not very noticeable.
The problem you describe is very common on the 850, 70 and S80 series Volvos.
I have not heard of this type of problem with the S60.
On the other hand, if Volvo used the same ABS control unit as the one that was used on all the other Volvos, then the unit will eventuall fail or has failed already.
Here's information I have on this subject, remember, this is for 850, 70 and S80 series.
Vitor's ABS Web page
Click on the ABS / TRACS Link
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