Latin America Markets Trending Higher; Brazil Central Bank Keeps Rates Steady
The Latin American markets are higher today, with Brazil to the fore as the Brazilian central bank decided to hold its base Selic rate at an all-time low of 7.25%, even as it acknowledged growing inflation risks.
Most industry sectors are higher on improved sentiment regarding the economic outlook for the U.S. - a large trading partner for many Latin American countries. New unemployment insurance applications in the United States fell to a five-year low.
Here's where the regional markets stand today:
- Ibovespa was up 488.89. Now up 453.6 (+0.7%) to 62,241.
- IPC (Mexico City) was up 51.27. Now up 38.25 (+0.1%) to 44,894.
- Santiago Index IPSA up 4.33 (+0.1%) to 3,869.68.
- Merval Buenos Aires up 40.08 (+1.28%) to 3,174.08
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