Brazil’s central bank cut its benchmark Selic rate by 25 basis points to 13.75% for a fifth consecutive meeting, leaving the path for further easing open while stressing a cautious, data-dependent approach. The Ibovespa rose 0.2% to 185,992 after a volatile session, having fallen as much as 1.2% amid concern over a 15% increase in welfare benefits and its fiscal and electoral implications. Polls placing Flávio Bolsonaro numerically ahead in second-round scenarios, a pause in the oil rally and softer global yields supported the index. Banco do Brasil gained 0.3%, Santander rose 2.5% and Vale advanced 2.1% as iron ore prices increased, while Itaú edged lower and Bradesco fell 0.3%.