INSUBCONTINENT EXCLUSIVE:
(Copom) raised the benchmark interest rate by 1 percentage point to 12.25% per year
The committee also signaled two more rate hikes of the same magnitude in the upcoming meetings scheduled for January and March 2025.This
aggressive monetary tightening caught many market participants off guard
In response to the interest rate decision, the Brazilian real weakened against the US dollar.The exchange rate closed at R$ 6.0072 per
prospects.Brazilian Market Tumbles as Central Bank Raises Interest Rates
Ibovespa index closing in negative territory
(PCAR3) led the losses with an 11% decline
Retail and consumer-focused companies bore the brunt of the sell-off.Carrefour (CRFB3) and Magazine Luiza (MGLU3) were among the worst
Higher interest rates typically dampen consumer spending, particularly on non-essential goods, which directly affects these sectors.Even
In the political arena, the Senate approved the base text of the first tax reform regulation project.The bill, reported by Senator Eduardo
Braga, maintains a cap on the new taxation rate at 26.5%
Unexpected increases in jobless claims and producer prices added to the complex global economic picture.As markets worldwide navigate
