It’s obvious.
The long term trip rating is 32 A. As in after 3 hours at 33 A you should trip but never at 32 A for a fully rated breaker. In a distribution panel unless it’s 100% duty derate to 80%. But since 32 A is a nonstandard (miniature MCCB size) that does not apply.
You get a standardized thermal curve from that point. The higher the current the faster it trips. The curve based on your description (sounds like a FAZ breaker) is specified in UL 489. Often you see IEC terms on the breaker and tables so this is confusing to read. The number printed on the handle and what we refer to as the breaker “rating” is the long term trip setting or 32 A. ALL other trip settings are based on this number.
The class C rating in UL 489 for MCCBs means the instantaneous trip setting is fixed at about 10-20 times the rating or 320-640 A for this breaker.
However the breaker cannot interrupt ANY current. Between 640 and 65,000 A there isn’t any problem. Above 65,000 A it can weld shut or even be ripped apart and explode from the magnetic force exerted on it. This limit is the allowable interrupting current or AIC. This is the 65 kA cutoff.
So as far as how it works the thermal curve (32 to 320 A) is designed for overloaded conditions. It is typically a mechanical issue such as overloading a motor. The instantaneous trip is for an electrical fault such as a short circuit or an arcing fault. However depending on the actual conditions things might not fall into nice neat categories like this. For instance breakers must be sized much higher than the load to avoid nuisance tripping due to starting currents on motors and transformers, so those are protected against overloads in another means.
You need to calculate or be given the available short circuit current and this must be less than the breaker AIC or you can’t use a breaker. You will need to look at series ratings for the breaker (say putting it in series with a bigger breaker or a fuse) or using a different device. Generally 65 kA is the highest rating available.