Former president Luiz Inacio Lula da Silva made a stunning comeback in Brazil's politics by winning the presidential election.
He defeated far-right incumbent President Jair Bolsonaro in the second round by winning 50.9 percent of the votes.
The election headed to a run off after both the candidates failed to win a clear majority in the first round held earlier this month.
The Opposition candidate's win marks the return of the left into power in Latin America's largest country after nearly four years under the rule of far-right leader Bolsonaro.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.