The Ibovespa rose nearly 1% to trade close to 171,000 on Wednesday as investors focused on monetary policy decisions from the BCB and the US Federal Reserve. Markets expect Brazil’s central bank to cut the Selic rate by 0.25 percentage point to 14.25%, although a pause remains possible amid a worsening external backdrop, higher oil prices, and deteriorating inflation expectations. The Fed is holding its first meeting under the leadership of Kevin Warsh and is expected to keep its benchmark rate unchanged. Oil prices hovered near a three-month low amid prospects of the reopening of the Strait of Hormuz and the International Energy Agency warning of a supply overhang next year. Financial stocks moved higher, with Ita