Brazil Stocks Hit Records, Real Strengthens as Copom Holds Selic at 15%

Overview

• The central bank kept the benchmark rate at 15%, and investors read the guidance as softer, increasing confidence in cuts starting in early 2026.
• Ibovespa set fresh highs, peaking near 153,583 intraday and closing around 153,294 on broad gains including banks, Petrobras and Vale.
• The real led global peers, pushing the dollar down about 0.7% to roughly R$5.36 as foreign demand for Brazilian assets strengthened.
• Official data showed a US$5.7 billion FX inflow in the last week of October, easing cupom cambial pressures and supporting the currency.
• Risk appetite was reinforced by upbeat ADP and PMI readings in the U.S. and by China’s suspension of some tariffs, while a long U.S. shutdown and Supreme Court tariff hearings limited broader dollar gains.