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Expansion Of Emergency Income, Central Bank Board Webinar

CHILE
  • USDCLP continued its move lower, weakening just shy of 0.5% to 701.65. Consistently firmer copper prices as well as the more aggressive Hacienda April schedule of dollar supply are adding tailwinds for the Peso. Despite this morning's pullback in the dollar and equity indices, USDCLP seems on track to test the 2021 lows at 693.
  • Main news released yesterday was that Chile to expand access to emergency family income. President Pinera stated:
    • Chile to pay 100.000 pesos per family member per month
    • Chile emergency income to cost $5.5b
    • 3 million more Chileans to receive emergency income
  • Today, potential comments from Chile Central Bank President Mario Marcel as he and the rest of the bank board attend a webinar.

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