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BCCh Confirm Conclusion of FX Intervention Programme

LATAM
  • MEXICO: Today’s slew of Mexican August data showed the unemployment rising higher than forecast: 3.53% vs. Exp. 3.40% (Prev. 3.43%). Meanwhile, the trade deficit slipped to 5.498bln vs. Exp. Deficit of 4.9bln.
  • CHILE: Late yesterday, the BCCh confirmed that their FX intervention programme is to conclude on September 30th, with the bank seeing the programme as having met its goals. After September 30th, the bank will only offer to roll over FX forwards, with the stock of forwards to be renewed amounting to $9.1bln.
  • Elsewhere, the Chilean lower house finance committee have approved Boric’s tax reform bill (8 voting for, 5 against), meaning the legislation proceeds to article-by-article voting before a formal floor vote.
  • PERU: Political upheaval persists in Peru, with Canal N reporting that prosecutors have raided a rural air force base in an attempt to find information on a possible flight log, in which President Castillo allegedly assisted his nephew in running from justice.
  • Meanwhile, polling across the country continues to show support for early elections, with IEP polling out late Monday showing 60% in support, although a large, and growing, minority (31%) still see Castillo staying in office 2026 as the most preferable option.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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