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Sixth Pension Withdrawal Under Discussion

CHILE
  • At 3pm local time, the Constitution committee of Chile’s Lower House is scheduled to debate a number of separate bills that would potentially allow more withdrawals from pension funds. DiarioUChile have reported that the government said it would assign “urgency” to the pension bills which means that Congress will have to vote on them within the next six days.
  • Finance Minister Mario Marcel continues to express his strong objections to the project, likely raising optimism in the market that they will fail like the previous attempts. Furthermore, Marcel recently stated that it could generate "a new wave of inflation."
  • Trade Balance data is due on Wednesday before Thursday’s key CPI data for May. Headline inflation is expected to decrease to 8.9% from 9.9% in April. For reference the next BCCh meeting/decision is June 19.

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