Brazil’s Stocks Rise as Inflation Data Fuel Rate Cut Speculation
- Lenders among biggest contributors to Ibovespa’s advance
- Steelmakers including Gerdau, Usinimas follow metals gains
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The Ibovespa rose to a two-year high after slower-than-forecast inflation encouraged bets that Brazil’s central bank is about to start easing monetary policy, giving a boost to the government’s efforts to restore growth.
Lenders Itau Unibanco Holding SA and Banco Bradesco SA were the biggest contributors to the benchmark equity index’s advance, while Banco do Brasil SA climbed to its highest price since May 2015. Steelmaker Gerdau SA was the best performer on the gauge as metals prices gained.