FX.co ★ Ibovespa Edges Down Post Copom Meeting

The Ibovespa declined, trading below 145,500 on Thursday, as investors processed Brazil's Copom decision and continued to evaluate the prospects for global interest rates. Brazil opted to maintain the Selic rate at 15% for the second consecutive meeting, marking the highest level in nearly two decades. The Central Bank indicated that rates are likely to remain elevated for the foreseeable future, supported by a robust labor market bolstered by substantial fiscal support and persistent inflation expectations. While this decision did not spur the equities market, credit-sensitive sectors managed to retain most of their gains from the previous day, driven by the Federal Reserve's rate cut. Notably, Magazine Luiza dipped by 1.2%, while Renner saw a modest increase of 0.2%. In the airline sector, Gol advanced by 1.2% and Azul by 1.4%. Among commodities, Vale grew by 0.4%, and Petrobras edged up by 0.1%. The banking sector showed a mixed performance, with Banco do Brasil climbing 2.5% and Itaú decreasing by 0.6%.