FX.co ★ Ibovespa Rallies After BCB

The Ibovespa index surged by over 1% to surpass the 135,200 mark on Thursday, as investors digested consecutive central bank decisions alongside corporate earnings reports. The Federal Reserve maintained interest rates but warned about potential inflation and labor market issues exacerbated by new US tariffs. Meanwhile, Brazil's Copom raised the Selic rate by 50 basis points to 14.75% and indicated future adjustments will depend on incoming data, highlighting a commitment to maintaining stringent policy. The financial sector propelled the day's gains, with Bradesco soaring over 14% following strong first-quarter results. Meanwhile, B3 rose more than 4% due to high trading volumes, and Itaú saw an increase of over 2%. Additionally, major commodity producers Petrobras and Vale gained ground as oil prices strengthened, spurred by news of upcoming meetings between senior US and Chinese officials in Switzerland aimed at reducing trade tensions.