The Ibovespa lost about 0.5% to trade below 185,000 on Thursday, pressured by higher-than-expected mid-month inflation and mixed Middle East war signals. The IPCA-15's momentum slowed in March after seasonal back-to-school effects faded, but food and personal expenses kept inflation above expectations. While the 12-month rate eased, it remains above the 3.0% target, adding pressure on the base rate outlook while Iran conflict-driven oil rises with no clear end in sight could further complicate central banks' rate decisions. Major banks posted losses: Ita