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CLP Continues Week Rally

CHILE
  • Chile rates gradually ticked higher throughout yesterday's session, divergent from most other EMs yesterday. Markets digested the central bank statement and as marginally hawkish, prompting the Peso to outperform, rallying 1.5% on Wednesday.
  • Copper production in top producer Chile fell to the lowest in two years last month, dragged down by a dip in extraction and processing of the metal.
    • Output slipped 4.8% from February last year and 7.5% from January this year, according to data released Wednesday by the National Statistics Institute.

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