MNI Latam Week Ahead: Chile / Peru Interest Rate Decisions

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Our Latam Week Ahead document highlights the major data releases and events scheduled across Latam next week. The document also includes the most pertinent macro developments over the past week.

• In Chile, the central bank is likely to remain on hold at 4.5% as it maintains its cautious meeting-by-meeting approach to monetary policy, although recent weak economic activity data have increased the risk of a dovish tilt.
• In contrast, the increase of inflation to a three-year high in Peru has raised the possibility of a BCRP rate hike in the coming meetings, even if it is widely expected to remain on hold for now.
• On the data front, higher CPI inflation in Colombia will keep the door open to an additional rate hike ahead, while softer inflation figures in Brazil should reinforce expectations for another BCB Selic rate cut later this month.