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Government Is Set To Push Forward Its Tax Reform Plans

CHILE
  • Chile's government is set to push forward its tax reform plans, including a bill on mining royalties, by the end of this month, a top cabinet member to President Gabriel Boric told Reuters, legislation that could impact the world's top copper producer.
  • Separately, Moody's Warns Chile Constitution Uncertainty Could Hit Mining Investment
    • Investment in Chile's mining sector could face gridlock if political uncertainty over a new constitution is not resolved, ratings agency Moody's said on Wednesday, a reflection of industry concerns in the world's top copper producing nation.
  • Banchile raised its inflation estimate for 2022 to 10% from 8.8%, according to a report by economists.
    • The inflationary surprise in May was due to increases in the prices of tourist packages and air transport.
    • “Much of the surprise to the upside would be permanent,” Banchile said.
    • Banchile also raised its estimate for the monetary policy rate from 9.25% to 10.25% at the end of the year.

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