The Ibovespa rose 0.9% to close at 171,990 on Thursday, as investors reacted positively to softer-than-expected inflation data and fresh guidance from the BCB. Brazil’s mid-month inflation slowed more than forecast in June, while the BCB sought to clarify its latest 25 basis-point Selic cut and stressed that future decisions remain data-dependent. The softer inflation print and lower oil prices pushed the yield curve lower. Major banks traded mixed, with Banco do Brasil up 1.6%, Itau rising 1.7%, while Bradesco edged down 0.2%. Vale rose 1.1%, recovering from recent losses. Petrobras gained 0.5% as oil prices edged up despite improving shipping flows through the Strait of Hormuz. Meanwhile, Braskem plunged 10.4% after creditors rejected its restructuring proposal.