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Inflation Data Due, BHP Workers Warn Of Strike

CHILE
  • Focus will be on today’s release of August inflation, following Tuesday’s above consensus 100bp rate hike from the BCCh. While the central bank’s statement highlighted this takes the MPR to around the “maximum level considered in the central scenario of the September Monetary Policy Report”, the board remains “especially vigilant of the upward risks for inflation”.
  • Data due at 1300BST/0800ET:
    • Aug. CPI Y/y, est. 13.8%, prior 13.1%; M/m est. 1.0%, prior 1.4%
  • BHP Workers at the Escondida copper mine in northern Chile are set to vote on a proposal to launch strikes over potential safety risks at the site, Reuters reported Thursday, citing a mine union.
  • The workers are urging the mining giant to immediately resolve a range of issues including non-compliances. The strikes will feature walkouts in 12-hour shifts on Sep. 12 and Sept. 14, which will be followed by an indefinite strike, if the issues are not resolved, according to the report.
    • Responding to the potential strikes, Escondida noted that the walkouts were "unlawful" as it already complied with all its labor and contractual obligations.

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