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June PPI Inflation Expected At 1400BST

CHILE
  • La Tercera report that the constitutional committee of the lower house of congress has agreed to vote on motions related to pension fund withdrawals at the end of August so that they are delivered to the lower house itself by the first week of September. Meanwhile, the lower house may vote on an agreement to merge related pension fund withdrawal bills as soon as today.
  • Data wise, June PPI inflation figures will be released at 1400BST(0900ET). In May producer prices rose by 0.7% m/m, following a 3.0% gain in April. After that, focus will turn to the next BCCh traders survey, which will be published on Friday. Activity data for June will then be released next week, just ahead of the July 31 BCCh MPC meeting.
  • In other news, Freeport-McMoRan said during an earnings call yesterday that it plans to invest $7.5bn in new infrastructure projects at Chile’s El Abra to support long-term copper demand trends.

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