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1h ago

Brazil Stocks Set Fresh Highs as Inflation Undershoots and Dollar Slides to R$5.27

A softer IPCA coupled with a steady 15% Selic outlook spurs renewed risk-taking.

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Overview

  • Official inflation rose 0.09% in October, pulling the 12‑month IPCA down to 4.68%, the lowest since early 2024 and below market forecasts.
  • Copom minutes reaffirmed the Selic at 15% for a "prolonged" period, with the committee saying the current stance is sufficient to bring inflation to target if maintained.
  • The Ibovespa extended its run of record sessions, pushing intraday toward 158,000 points and logging a 15th consecutive gain.
  • The real strengthened as the dollar closed at R$5.273, the weakest level since June 6, 2024, while long‑dated DI rates fell across key maturities.
  • Global risk appetite improved after the U.S. Senate advanced a temporary funding bill to end the shutdown, and economists shifted views toward 2025 inflation within the tolerance band with rate‑cut calls clustered between January and March 2026.