The Ibovespa advanced 1.4% on Thursday, closing at 187,318 points, as investors assessed signals from the central bank regarding the pace and scope of further interest rate moves. The rally came on the heels of Wednesday’s decision to cut the Selic rate by 25 basis points, to 14.50% per year. The monetary authority stressed that it will need to incorporate new data to guide future policy decisions, pointed to a possible recalibration of the easing cycle, and underscored the gap between current inflation and the official target.
In the equity market, banks were among the main gainers, with Itaú up 2% and Bradesco advancing 1.2%. Utilities also rose, led by Eletrobras, which climbed 2.6%. Petrobras added 0.2%, supported by still-elevated oil prices, even after a pullback from recent peaks.
On the macroeconomic front, the unemployment rate came in at 6.1% in the rolling quarter ended March 2026, up from 5.8% in the previous period and broadly in line with expectations. Despite the uptick, it was the lowest jobless rate for this period in the historical series, which began in 2012.
