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Q1 GDP and Trade Balance Data Due

CHILE
  • Monthly data through March points to GDP falling 0.9% in 1Q from a year earlier. That would compare with central bank expectations of -0.6%. Along with decelerating inflation, the contraction supports central bank forecasts and widespread expectations for policymakers to start cutting rates in 3Q. The central bank will publish both the GDP data and current account balance at 1330BST/0830ET:
    • 1Q GDP Q/q, est. 1.0%, prior 0.1%; Y/y, est. -0.9%, prior -2.3%
    • 1Q Current Account Balance, est. -$300m, prior -$4.99b
  • Chilean lawmakers approved a bill to lift taxes on copper producers to levels just above rival mining nations in a move that will raise funds for social programs but may dampen the appeal of some investments. In a vote late yesterday, the Chamber of Deputies passed an amended version of the bill following Senate approval last week. Changes will affect local units of companies including BHP Group Ltd. and Anglo American Plc. (BBG)

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