After last week’s Copom meeting, the biggest highlight in the local market this Monday was the Focus Bulletin forecast update.
Overseas, we must follow the auction of US bonds (treasury bonds) and the statements of Alberto Musallem of the Federal Reserve (Fed, America’s central bank).
Check out the highlights from this Monday’s agenda.
FGV releases IPC-S in first four weeks of November – The Getulio Vargas Foundation (Ibre-FGV), the Brazilian Institute of Economic Research, releases the weekly consumer price index (IPC-S) for the first four weeks of November at 8 am. IPC-S rose 0.14% in the 4th week of October 2025, for a cumulative increase of 3.60% over the past 12 months.
BC releases this week’s Focus Bulletin – The Central Bank (BC) will publish its Focus Bulletin for the week ending November 7 at 8:25am. Market economists’ median forecast for Brazil’s official inflation rate in 2025 was 4.56% to 4.55%. The median forecast for the National Consumer Price Index (IPCA) in 2026 was only 4.20% higher. In 2027, it decreased from 3.82% to 3.80% increase, and in 2028, it changed from 3.54% increase to 3.50% increase. The estimated median base interest rate (Selic) remained at 15% for 19 consecutive weeks at the end of 2025. At the end of 2026, it remained at 12.25% for 6 consecutive weeks, and in 2027, it remained at 10.50% for 38 consecutive weeks.
Secex releases trade balance for first week of November – The Foreign Trade Secretariat (Secex) of the Ministry of Development, Industry and Commercial Services (Mdic) will announce the results of the balance of trade for the first week of November at 3:00 p.m. Brazil’s trade balance in October recorded a surplus of $6.964 billion. This was an increase of 70.2% compared to the same period last year. In the same month, total exports increased by 9.1% to USD 31.97 billion, while imports decreased by 0.8% to USD 25.01 billion. Year-to-date, total exports totaled US$289,731 million, an increase of 1.9% year-on-year, and total imports totaled US$237,336 million, an increase of 7.1%. Trade flow, the sum of exports and imports, reached USD 527.067 billion, an increase of 4.2%.
Fed Leaders Speak – At 11:45 a.m. (Brasilia time), an interview with St. Louis Area President Alberto Musallem is scheduled on Bloomberg TV. The board members have the right to vote at this year’s monetary policy meeting.
U.S. Treasury holds auction for 3-year T-notes – The U.S. Treasury will hold an auction of 3-year T-notes. The results will be known at 3pm (Brasilia time).
Mr. Lula participates in the opening of COP30 – President Luiz Inacio Lula da Silva attended the opening ceremony of COP30 in Belém (Pennsylvania).
INSS CPMI listens to association leaders – The INSS Joint Parliamentary Investigation Committee will hold a public hearing at 4pm with Mr. Igor Díaz Derekrod, Director of the Association for Social Assistance of Retirees and Pensioners (AASAP).
Chamber of Commerce Committee debates six times a day – The chamber’s special subcommittee on the 6×1 scale of work will hold a discussion on this topic at 2 p.m. The Chairman of the Chamber of Commerce and Industry, Vice-Chairman Hugo Motta, was invited. Minister of Labor and Employment, Luis Marinho; Minister of Development, Industry, Commerce and Services, Vice President of the Republic Gerald Alkmin and representatives of trade unions.
Mr. Addad works in São Paulo. – Finance Minister Fernando Addad will leave São Paulo this Monday.
Mr. Garipolo attends BIS meeting in Basel – Gabriel Garipolo, Governor of the Central Bank (BC), will participate in a meeting organized by the Bank for International Settlements (BIS). Garipolo will be staying in Basel, Switzerland to fulfill these commitments.
BC director attends BIS meeting in Basel * Paulo Piketty, the central bank’s head of international affairs and corporate risk management, will take part in a conference organized by the Bank for International Settlements (BIS) in Basel, Switzerland. Inspection Director Ayrton de Aquino Santos will meet with Santander consultant and advisor Renato Martins Oliva at 3 p.m. At 3:30 p.m., Director-General of Regulation Gilles-New Vivant will meet with representatives of the Ministry of Entrepreneurs, Microenterprises and Small and Medium Enterprises. Other directors are expected to be subject to internal orders.
About The Author
