Brazil Stocks, Real Advance as Fed Outweighs Concern Over Lula

March 16, 2016 7:08 PM

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Brazil’s stocks and the real joined global gains as the Federal Reserve signaled a slower path for future rate increases, outweighing concern Latin America’s largest economy will boost spending after former President Luiz Inacio Lula da Silva was appointed as chief of staff.

The Ibovespa was the biggest gainer among the world’s largest markets after the U.S. central bank kept the target range for the benchmark federal funds rate at 0.25 percent to 0.5 percent, bolstering appetite for riskier assets. An earlier plunge had sent the stock gauge to the worst-performing spot...

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