The Ibovespa rose 1.7% to close at a fresh record of 158,555 on Wednesday, after softer inflation data supported expectations of multiple rate cuts by the Brazilian central bank next year. Mid-month inflation eased to 4.5%, the first print within the BCB's target band, as central bank monetary policy director Nilton David said further rate hikes are no longer in the base scenario. Major banks advanced amid the support on credit outlooks, with Banoco Do Brasil, Santander, Bradesco and Ita