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Argentina Hike Rates a Further 200bps to 49%

LATAM
  • Inline with source comments during the Thursday session, the Argentina central bank raised rates by 200bps to 49% - largely inline with expectations. The move followed the release of inflation data Thursday that showed inflation running at a Y/Y pace of 58%.
  • Debate surrounding the Chilean constitution continues, with the mining undersecretary stating that the government are confident it can bring regulatory clarity to the mining sector, becoming a leading jurisdiction globally.
  • Elsewhere for the constitution, the convention are to vote on measures surrounding the future of the central bank, with the bank to deliver considerations to the Convention to implement changes that ensure "institutional continuity". Debates today are to include raising number of directors at central bank to 7 and on 'new issues when it comes to resolving monetary policy.'

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