2023-12-14 15:50:03
Ibovespa, the main index of the Brazilian Stock Exchange, B3, hit this Thursday, the 14th. Just after 10 am, the index hit 131,259 points. This is the highest nominal value in the history of the stock exchange. It thus surpassed the level of 131,190 points in June 2021.
The record level comes one day after the central banks of Brazil and the United States (USA) set their interest rates. The Central Bank (BC) of Brazil cut the rate by 0.5 percentage points, reaching 11.75% per year.
Already the Federal Reserve (FED)the US Central Bank, maintained the rate level, which remained in the range of 5.25% to 5.5% per year.
2024 will be the year of US interest rate cuts, says economist
“Jerome Powell (president of the FED) gave the cue to the entire market, to the central banks”, says economist Jefferson Laatus, chief strategist of the group that bears his name, in contact with the newspaper The State of S. Paulo. “Yesterday, he made it clear that 2024 will be the year of cutting American interest rates.”
“Basically, the Copom did not disappoint, it’s just that the market always wants more”, continued Laatus. “It cut 0.5 percentage points and left the door open for more falls. This is also positive.”
The chief economist at JF Trust, Eduardo Velho, stated that investors are increasing optimism in the international market. According to him, projections are for a fall in inflation and interest rates in the USA in 2024.
+ Read more about Economy in West
#Ibovespa #reaches #highest #level #June