The Ibovespa slipped, trading near the 186,000 level on Wednesday after the US Federal Reserve’s monetary policy decision and ahead of the Brazilian Central Bank’s (BCB) announcement. The Fed raised its benchmark rate by 25 bps, and a majority of FOMC members signaled the likelihood of one more hike this year. In contrast, the BCB is expected to deliver a 25 bps cut to the Selic rate after the market close, which would mark the fifth consecutive reduction and the final Copom decision before the October presidential election.
Performance among financials was mixed: private banks edged lower, while Banco do Brasil gained 2.5%, BB Seguridade rose 1.5%, and Caixa added 1%. Petrobras weighed on the index, dropping more than 2.5% as oil prices retreated amid reports that Saudi Arabia is offering additional crude cargoes via Oman. Mining stocks also declined, with Vale and CSN Mineração losing around 2%, and Usiminas sliding more than 3%.
