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To avoid appearing as "the big loser" on Sunday, "Bolsonaro needed to knock out Lula and make him appear defeated. He didn't make it,” Professor Medeiros explained.

In a statement, the bank detailed that Banxico's five board members unanimously agreed to increase the target for the overnight interbank interest rate by 75 basis points to 9.25 percent.

Ian regained hurricane strength on Thursday afternoon after inflicting significant damage on the southeastern U.S. state of Florida.

The recent passage of Hurricane Ian through the western region of Cuba caused a collapse in the national power grid.

Former Brazilian President Luiz Inácio Lula da Silva (2003-2011) would have 50 percent of the valid votes in this Sunday's elections and would be on the verge of winning in the first round, according to the Datafolha institute poll released on Thursday.

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