Ibovespa (IBOV) trades between losses and gains ahead of US central bank minutes

Pan-European STOXX 600 index closed down 0.91%. (Image: Diana Cheng/Money Times)

O Ibovespa (IBOV) operated between losses and gains in the early afternoon of this Wednesday (17), before the release of the minutes of the Fomc in the United States. At around 2:10 pm, the main index of the Brazilian stock exchange rose 0.10%, to 113,600 points

The minutes of the Federal Reserve’s July meeting will be released at 3:00 pm (Brasília time). The document may offer clues about the magnitude of further rate hikes.

Central bank officials have stressed that they will continue to raise borrowing costs until inflation is under control.

Traders have come to see roughly equal chances that the Fed will raise interest rates by 0.50 or 0.75 percentage points in September.

On Wall Street, indices were down, with growth stocks under renewed pressure as bond yields rose.

European shares tumbled on Wednesday after a sharp rise in UK inflation turned the spotlight on the possibility of further monetary tightening, while data showed euro zone economic growth was slightly less robust in the second quarter.

The pan-European STOXX 600 index closed down 0.91% at 439.03 points, its biggest daily percentage decline in more than a month. The index also ended a five-day streak of gains.

*With information from Reuters

Source: Moneytimes

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