Ibovespa edges higher after Brazil cuts Selic
The Ibovespa rose 0.2% to 185,992 following the BCB’s 25 bps Selic cut to 13.75%, with Copom offering continuity but no clear next-step signal.
75%. Copom did not spell out its next move, but it left open the possibility of another cut at the next meeting. The message was one of continuity, with policy still cautious, data-dependent and focused on composure. 2% as investors worried about government spending and electoral effects after the federal government announced a 15% increase in welfare benefits.
Polls showing challenger Flávio Bolsonaro numerically ahead in second-round scenarios continued to support the index. A halt in the oil rally and the resulting easing in global yields also helped the market. 3%. 1% on higher iron ore prices.