Key Points
Brazil’s central bank cut its benchmark Selic rate to 14.25%, the third straight reduction, but warned that election-year spending could keep inflation high.
The US Federal Reserve held its rates steady, yet surprised markets by signalling its next move could be a rate hike, not a cut.
That hawkish turn rattled Wall Street: the Dow, S&P 500 and Nasdaq all fell around 1% after the Dow had touched a fresh record earlier in the day.
The Ibovespa slipped 0.70% to 168,453, a third straight decline, brushing its lowest level since January before trimming losses.
