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Lower House Approves Constitution Committee Members

CHILE
  • The lower House approved the group of 12 members that will integrate the “expert committee” that will draft a new version of the constitution. The group will be joined by another 12 members who will be selected by the Senate in a separate vote. The expert committee will then be installed on March 6 where they will have three months to present a constitution draft to the Constitutional Council with another referendum scheduled for December.
  • USDCLP briefly breached the psychological 800 mark on Tuesday, representing a fresh 9-month low for the pair and extending the selloff since July to around 25%. Buoyant copper prices and the overall softer tone for the greenback continue to provide firm CLP tailwinds.
  • Focus shifts to Thursday’s BCCh decision where the Bloomberg survey continues to show all analysts expecting an unchanged decision, keeping the key rate at 11.25%. However, one analyst within the MNI preview is expecting a cut at this meeting.

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