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Summary – February 29

LATAM
  • Chile will publish activity data for January on Thursday, including IP, retail sales and copper production. Brazil, Mexico and Colombia unemployment data for January will also cross. BanRep will hold its monthly (non-monetary policy) board meeting to assess the latest information about the economy.
  • In a busy US data session, the MNI Chicago Business Barometer is the highlight - seen improving to 48.0 from 46.0 previously. Weekly jobless claims, alongside personal income/spending and the latest PCE deflators also cross. Fedspeak picks up, with Bostic, Goolsbee and Mester headlining.
  • Global News:
    • US – Congressional leaders reached a last-minute deal to avoid a disruptive US government shutdown, setting up another clash with ultra-conservatives who swiftly blasted the agreement. The deal would provide one week of temporary funding to avert a March 2 partial shutdown and fund parts of the government through Sept. 30.
    • RUSSIA/UKRAINE – Ukrainian officials are concerned that Russian advances could gain significant momentum by the summer unless their allies can increase the supply of ammunition, according to a person familiar with their analysis. Internal assessments of the situation on the battlefield from Kyiv are growing increasingly bleak as Ukrainian forces struggle to hold off Russian attacks.
    • JAPAN (MNI) – BoJ board member Hajime Takata said on Thursday he foresees the achievement of the bank’s 2% price target and the Bank must consider a flexible policy exit, flagging the possible near-future policy change.
    • CHINA (MNI Beijing) – China will boost consistency of its macro policies, within a stable and predictable policy environment, while speeding up the development of “new productive forces”, according to a Politburo meeting presided over by President Xi Jinping on Thursday.

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