Ibovespa Fluctuates and Dollar Drops After Copom Rate Decision
The Central Bank holds interest rates at 13.75% per year and cites economic uncertainty and unanchored inflation expectations.
The Central Bank's Monetary Policy Committee decided to keep the benchmark interest rate at 13.75% per year. The measure was announced following the meeting held last Wednesday.
The official statement highlighted concerns regarding the worsening of inflation expectations. Officials also mentioned that the current economic environment carries a high level of uncertainty.
The financial market reacted with instability during Thursday's trading session. The Ibovespa traded without a clear direction during the opening of the Brazilian stock exchange.
After hitting a low of 167,190 points, the main index rose 0.15% to reach 167,829 points. Index futures contracts also followed the trend with a 0.16% gain.
The dollar retreated against the real during the same period. The US currency was trading at R$ 5.45, recording a negative variation of 0.20% in the selling price.
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