Ibovespa Enters Bear Market as Oil Prices Sink Petrobras

In October, Petrobras, a state-run oil producer, experienced a 14% decline over five days, contributing to a 5.3% drop in the Brazilian index. Despite higher interest rates, Brazil's retail sales increased by 1% in October, surpassing forecasts. The central bank raised the benchmark index to its highest level in over three years to manage inflation, leading to higher borrowing costs for consumers.

What was the percentage drop in Petrobras' stock over the five-day period?

• 10%

• 14%

• 20%

• 5%

By how much did the Brazilian index fall during the week?

• 2.8%

• 7.1%

• 5.3%

• 3.5%

What was the percentage increase in Brazil's retail sales in October?

• 0.5%

• 1%

• 1.5%

• 2%

What action did the central bank take to control inflation?

• Reduced government spending

• Introduced new currency

• Increased the benchmark interest rate

• Lowered the interest rate

How did consumers react to the higher interest rates in terms of shopping?

• They only bought essentials

• They continued to shop

• They shopped less

• They stopped shopping