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Quarterly Monetary Policy Report, Trade Balance Data

CHILE
  • As noted earlier, the focus turns to the central bank’s release of the quarterly monetary policy report, following the surprise decision to hike rates by 100bp on Tuesday. The release is scheduled for 1400BST/0900ET.
  • Prior to the release, the following data will be provided:
    • Aug. International Reserves, revised prior $44.7b
    • Aug. Trade Balance, est. -$900m, prior +$76m
    • Aug. Copper Exports, prior $3.42b
    • July Nominal Wage YoY, prior 10.0%
  • On Tuesday, Chilean President Gabriel Boric appointed more centrist cabinet ministers Tuesday after voters overwhelmingly rejected a new constitution that would have constrained the country's market-based economy and led to other changes long sought by his political base.
  • In the Interior Ministry, Boric replaced Izkia Siches, who was responsible for security in the face of rising crime, with Carolina Tohá, an experienced moderate leftist politician who has served as the mayor of Santiago and as a minister in the government of President Michelle Bachelet.
  • The president also appointed Ana Lya Uriarte, another political veteran close to Ms. Bachelet. The president also replaced the ministers of health, energy and science.
    • "Ministers Tohá and Uriarte are experienced and able politicians," said Andrés Velasco, a former finance minister now at the London School of Economics. "They are also Social Democrats, so their appointment pushes some of the more radical forces in the coalition away from the center of power." (Dow Jones)

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