FX.co ★ Ibovespa Steady as Markets Await Copom and Fed Decisions

On Wednesday, the Ibovespa hovered close to 158,000 as investors anticipated key monetary policy announcements from both the Central Bank and the Federal Reserve, while also assessing new inflation figures. The Central Bank's Monetary Policy Committee (Copom) was poised to reveal its final decision of the year, with widespread expectations for maintaining the Selic rate at 15%, as markets seek indications of potential rate cuts in 2026. The Federal Reserve also meets today, with traders largely confident of a 25 basis points rate reduction. Simultaneously, Brazil’s annual inflation rate dipped to 4.46% in November, coming in slightly under projections. Among major players, banks generally experienced a downturn, exemplified by a 6% drop in Itaú's shares. In contrast, Vale's stock rose nearly 2% due to stronger iron ore prices, and Petrobras saw a modest increase amid firmer oil prices. Additionally, WEG appreciated by over 0.6%, Ambev decreased by nearly 3%, while steelmakers benefited from gains, as evidenced by CSN's 3% rise and Gerdau's 0.8% climb.