{"id":16718,"date":"2026-11-03T13:16:15","date_gmt":"2026-11-03T17:16:15","guid":{"rendered":"https:\/\/163noticias.com.br\/?p=16718"},"modified":"2026-11-03T13:16:17","modified_gmt":"2026-11-03T17:16:17","slug":"xp-ve-pausa-no-corte-de-juros-ate-o-fim-de-2027-com-cenario-negativo-para-a-inflacao","status":"publish","type":"post","link":"https:\/\/163noticias.com.br\/?p=16718","title":{"rendered":"XP v\u00ea pausa no corte de juros at\u00e9 o fim de 2027, com cen\u00e1rio negativo para a infla\u00e7\u00e3o"},"content":{"rendered":"<div id=\"\">\n<p>O cen\u00e1rio-base da XP passou a incorporar uma pausa no ciclo de flexibiliza\u00e7\u00e3o dos juros, com a proje\u00e7\u00e3o de que a Selic <strong>deve estacionar no atual patamar de 13,75%<\/strong> e <strong>permanecer nele at\u00e9 o fim de 2026 e de 2027.<\/strong> A reuni\u00e3o do Comit\u00ea de Pol\u00edtica Monet\u00e1ria (Copom) sobre a taxa Selic ocorre nesta ter\u00e7a (3) e quarta-feira (4).<\/p>\n<p>\u201cAcreditamos que o Copom manter\u00e1 a taxa Selic em 13,75% nesta semana\u201d, diz o relat\u00f3rio \u201cEsquenta do Copom\u201d, assinado pelo economista-chefe da casa, Caio Megale.\u00a0<\/p>\n<p>\u201cPor ora, projetamos que a taxa Selic permanecer\u00e1 em 13,75% at\u00e9 o final de 2027\u201d, aponta o texto, destacando que o cen\u00e1rio \u00e0 frente \u00e9 incerto e que o Copom poder\u00e1 retomar cortes caso \u201cos ativos financeiros se estabilizem e o cen\u00e1rio de infla\u00e7\u00e3o melhore\u201d, ou at\u00e9 mesmo elevar a taxa b\u00e1sica de juros se a situa\u00e7\u00e3o exigir assim.<\/p>\n<div class=\"cta-middle\">\n<div class=\"im-cta\">\n<div class=\"max-w-2xl mx-auto space-y-4 px-6 xl:px-0 my-10\">\n<section class=\"border-8 border-blue-50 rounded-lg pb-6\">\n<div><\/div>\n<\/section><\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>Leia tamb\u00e9m:<\/strong> <a href=\"https:\/\/www.infomoney.com.br\/economia\/o-que-esta-em-jogo-na-primeira-decisao-do-copom-apos-a-reeleicao-de-lula\/\">O que est\u00e1 em jogo na primeira decis\u00e3o do Copom ap\u00f3s a reelei\u00e7\u00e3o de Lula<\/a><\/p>\n<h2 class=\"wp-block-heading\" id=\"h-dados-negativos-desde-o-ultimo-copom\">Dados negativos desde o \u00faltimo Copom<\/h2>\n<p>A mudan\u00e7a de cen\u00e1rio se d\u00e1 pelo fluxo de dados e de not\u00edcias desde a \u00faltima reuni\u00e3o do Copom, em setembro, quando <a href=\"https:\/\/www.infomoney.com.br\/economia\/taxa-selic-copom-corta-juros-13-75-set-2026\/\">a autoridade decidiu cortar 0,25 ponto percentual e levar a Selic a 13,75%<\/a>.\u00a0<\/p>\n<p>Naquela \u00e9poca, parte dos analistas j\u00e1 viam pausa nos cortes, enquanto outros avaliavam que a desacelera\u00e7\u00e3o da economia permitiria mais al\u00edvio nos juros, entre eles a XP, que projetava juro em 13,25% ao fim de 2026.<\/p>\n<div data-ds-component=\"ad\" data-ad-type=\"RETANGULO_BF\" class=\"max-w-2xl [&amp;_iframe]:mx-auto z-0 bg-wl-neutral-50 text-xs leading-4 py-4 px-14 text-center text-wl-neutral-500 mx-auto mb-6 xl:px-0 justify-center min-h-[320px]\">\n<p class=\"py-2\">Continua depois da publicidade<\/p>\n<\/p><\/div>\n<p>Mas o cen\u00e1rio p\u00f3s-eleitoral alterou as expectativas. Entre os fatores de deteriora\u00e7\u00e3o, a XP destaca a deprecia\u00e7\u00e3o do real, os pre\u00e7os do petr\u00f3leo mais elevados e o aumento nas expectativas inflacion\u00e1rias de m\u00e9dio prazo.\u00a0<\/p>\n<p>A gestora cita os riscos clim\u00e1ticos do El Ni\u00f1o sobre os pre\u00e7os, a aprova\u00e7\u00e3o do <a href=\"https:\/\/www.infomoney.com.br\/tudo-sobre\/escala-6x1\/\">fim da jornada 6\u00d71<\/a> e o aumento da al\u00edquota do IVA (Imposto sobre Valor Agregado) acima da prevista anteriormente, al\u00e9m de um rebalanceamento dos grupos do IPCA, o que deve elevar os pre\u00e7os dos servi\u00e7os.<\/p>\n<p>Este quadro fez com que as proje\u00e7\u00f5es de mercado para a infla\u00e7\u00e3o de 2027, que j\u00e1 estavam acima da meta, subissem mais 0,40 p.p. nos \u00faltimos dias, segundo a XP.<\/p>\n<div data-ds-component=\"ad\" data-ad-type=\"RETANGULO_BF\" class=\"max-w-2xl [&amp;_iframe]:mx-auto z-0 bg-wl-neutral-50 text-xs leading-4 py-4 px-14 text-center text-wl-neutral-500 mx-auto mb-6 xl:px-0 justify-center min-h-[320px]\">\n<p class=\"py-2\">Continua depois da publicidade<\/p>\n<\/p><\/div>\n<p>A XP afirma que as proje\u00e7\u00f5es de infla\u00e7\u00e3o nos modelos adotados pelo Copom devem ficar ainda mais distantes da meta \u2014 atualmente em 3%, com toler\u00e2ncia de 1,5% para cima (4,5%) ou para baixo (1,5%).\u00a0<\/p>\n<p>Para 2026, a proje\u00e7\u00e3o do Copom deve manter a infla\u00e7\u00e3o em 5,2%, na avalia\u00e7\u00e3o da XP. Mas, para 2027, ela deve sair de 3,9% para 4,4% e, no 2\u00b0 trimestre de 2028 \u2014 o atual horizonte relevante da pol\u00edtica monet\u00e1ria \u2014 a infla\u00e7\u00e3o deve sair de 3,1% para 3,5%, aponta a XP.<\/p>\n<p>A casa tamb\u00e9m destaca que o \u00faltimo boletim Focus aponta infla\u00e7\u00e3o mais atla em 2029, um horizonte para al\u00e9m dos choques do curto prazo. \u201cAs proje\u00e7\u00f5es subiram mais do que a in\u00e9rcia inflacion\u00e1ria de 2028 sugeriria. Trata-se, portanto, de uma potencial deteriora\u00e7\u00e3o na credibilidade da pol\u00edtica econ\u00f4mica. Com isso, uma rea\u00e7\u00e3o firme de pol\u00edtica monet\u00e1ria contribuiria para amenizar essa din\u00e2mica\u201d, afirma Megale, em relat\u00f3rio.<\/p>\n<div data-ds-component=\"ad\" data-ad-type=\"RETANGULO_BF\" class=\"max-w-2xl [&amp;_iframe]:mx-auto z-0 bg-wl-neutral-50 text-xs leading-4 py-4 px-14 text-center text-wl-neutral-500 mx-auto mb-6 xl:px-0 justify-center min-h-[320px]\">\n<p class=\"py-2\">Continua depois da publicidade<\/p>\n<\/p><\/div>\n<p>A desacelera\u00e7\u00e3o da atividade \u00e9 apontada com vi\u00e9s baixista para a infla\u00e7\u00e3o, mas n\u00e3o \u00e9 o suficiente para segurar as expectativas do mercado. A XP projeta que o PIB do 3\u00b0 trimestre deve recuar de 0% para -0,2%, com um mercado de cr\u00e9dito mais frio e maiores taxas de inadimpl\u00eancia.\u00a0<\/p>\n<p>A expectativa \u00e9 que o comunicado seja mais duro (<em>hawkish<\/em>), sem sinaliza\u00e7\u00e3o dos pr\u00f3ximos passos (<em>forward guidance<\/em>).<\/p>\n<\/p><\/div>\n<p><b>Fonte: infomoney<\/b><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>O cen\u00e1rio-base da XP passou a incorporar uma pausa no ciclo de flexibiliza\u00e7\u00e3o dos juros, com a proje\u00e7\u00e3o de que a Selic deve estacionar no atual patamar de 13,75% e permanecer nele at\u00e9 o fim de 2026 e de 2027. A reuni\u00e3o do Comit\u00ea de Pol\u00edtica Monet\u00e1ria (Copom) sobre a taxa Selic ocorre nesta ter\u00e7a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":16719,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[7140,8161,7403,7468,3614,464,12074,402,6691,6632],"class_list":["post-16718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economia","tag-ate","tag-cenario","tag-corte","tag-fim","tag-inflacao","tag-juros","tag-negativo","tag-para","tag-pausa","tag-ve"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.1 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>XP v\u00ea pausa no corte de juros at\u00e9 o fim de 2027, com cen\u00e1rio negativo para a infla\u00e7\u00e3o - 163 NOTICIAS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/163noticias.com.br\/?p=16718\" \/>\n<meta property=\"og:locale\" content=\"pt_BR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XP v\u00ea pausa no corte de juros at\u00e9 o fim de 2027, com cen\u00e1rio negativo para a infla\u00e7\u00e3o\" \/>\n<meta property=\"og:description\" content=\"O cen\u00e1rio-base da XP passou a incorporar uma pausa no ciclo de flexibiliza\u00e7\u00e3o dos juros, com a proje\u00e7\u00e3o de que a Selic deve estacionar no atual patamar de 13,75% e permanecer nele at\u00e9 o fim de 2026 e de 2027. A reuni\u00e3o do Comit\u00ea de Pol\u00edtica Monet\u00e1ria (Copom) sobre a taxa Selic ocorre nesta ter\u00e7a [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/163noticias.com.br\/?p=16718\" \/>\n<meta property=\"og:site_name\" content=\"163 NOTICIAS\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/163noticias\" \/>\n<meta property=\"article:published_time\" content=\"2026-11-03T17:16:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-11-03T17:16:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/163noticias.com.br\/wp-content\/uploads\/2026\/11\/XP-ve-pausa-no-corte-de-juros-ate-o-fim.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"REDA\u00c7\u00c3O\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@163Noticias\" \/>\n<meta name=\"twitter:site\" content=\"@163Noticias\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"REDA\u00c7\u00c3O\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. tempo de leitura\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/163noticias.com.br\/?p=16718#article\",\"isPartOf\":{\"@id\":\"https:\/\/163noticias.com.br\/?p=16718\"},\"author\":{\"name\":\"REDA\u00c7\u00c3O\",\"@id\":\"https:\/\/163noticias.com.br\/#\/schema\/person\/53e877f057e96b58df7573e626a41bf3\"},\"headline\":\"XP v\u00ea pausa no corte de juros at\u00e9 o fim de 2027, com cen\u00e1rio negativo para a infla\u00e7\u00e3o\",\"datePublished\":\"2026-11-03T17:16:15+00:00\",\"dateModified\":\"2026-11-03T17:16:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/163noticias.com.br\/?p=16718\"},\"wordCount\":635,\"publisher\":{\"@id\":\"https:\/\/163noticias.com.br\/#organization\"},\"image\":{\"@id\":\"https:\/\/163noticias.com.br\/?p=16718#primaryimage\"},\"thumbnailUrl\":\"https:\/\/163noticias.com.br\/wp-content\/uploads\/2026\/11\/XP-ve-pausa-no-corte-de-juros-ate-o-fim.jpg\",\"keywords\":[\"at\u00e9\",\"cen\u00e1rio\",\"Corte\",\"Fim\",\"infla\u00e7\u00e3o\",\"juros\",\"negativo\",\"para\",\"pausa\",\"v\u00ea\"],\"articleSection\":[\"ECONOMIA\"],\"inLanguage\":\"pt-BR\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/163noticias.com.br\/?p=16718\",\"url\":\"https:\/\/163noticias.com.br\/?p=16718\",\"name\":\"XP v\u00ea pausa no corte de juros at\u00e9 o fim de 2027, com cen\u00e1rio negativo para a infla\u00e7\u00e3o - 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