Brazil's annual inflation rate in September rose way above the official target to the highest in nearly three years, giving fresh ammunition to opposition candidate Aecio Neves in a run-off vote later this month against President Dilma Rousseff.
Although pollsters in Brazil got it right with President Dilma Rousseff victory and the growth tendency of runner up Aecio Neves in the last days leading to Sunday's presidential election, they failed dismally in percentage estimates.
The Sao Paulo stock exchange soared 4.7% on Monday with the Bovespa index reaching 57.115 points following Sunday's presidential election when no candidate managed 50% of ballots, opening the way for a runoff between pro-business Aecio Neves and president Dilma Rousseff.
The multi-party coalition that currently supports Brazilian president Dilma Rousseff lost ground in Sunday's election but will keep its majority in Congress following on the results released by the country' Superior Electoral Tribunal, TSE.
The social-democrat (PSDB) governor from the state of Sao Paulo, Brazil's largest electoral district, Geraldo Alckim was re-elected on Sunday with 57,7% of ballots, which ensures a strong spring board for the presidential runoff between president Dilma Rousseff and her PSDB challenger on 26 October, Aecio Neves.
Latin American currencies weakened on Friday after strong U.S. jobs data was seen as increasing the likelihood of higher interest rates in the world's largest economy, while Brazil markets fluttered in the last trading session before Oct. 5 elections.
Brazilian President Dilma Rousseff has extended her lead over environmentalist Marina Silva ahead of Sunday's Oct. 5 presidential election and would win a likely second-round runoff, a new poll showed on Thursday.
Brazilian presidential candidate Marina Silva vowed to de-politicize regulatory agencies that she says do more to win favor with government allies than ensure fair and efficient markets in Latin America's biggest economy.
Presidential candidate Marina Silva has widened her lead over President Dilma Rousseff to 10 percentage points in what could be a likely runoff in Brazil's October election, a survey by polling firm Datafolha showed on Friday.
With less than two months to the crucial 5 October presidential election, Brazil's Central Bank continued to battle economic turmoil increasing the credit available for commercial loans in the hope of boosting the country’s stagnant growth figures.