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Week Ahead: BCCh Monetary Policy Meeting, Banxico And BanRep Minutes

LATAM
  • Next week, the focus will be on Tuesday’s monetary policy meeting in Chile, where the central bank may moderate the pace of interest rate cuts. Elsewhere, the central banks of Mexico and Colombia will also publish the minutes to their recent monetary policy meetings, where they both delivered rate cuts.
    • On Monday, Chile February economic activity is expected to rise by 2.7% y/y. March manufacturing PMI data for Brazil, Colombia and Mexico will also cross, while Peru publishes March CPI data, where inflation is expected to fall back to 2.8% y/y. Meanwhile, BanRep will publish the minutes to its recent MPC meeting where it cut by 50bp.
    • The focus on Tuesday will be the BCCh monetary policy meeting, when the central bank is expected to moderate the pace of easing, with a 75bp cut to 6.5%. Elsewhere, Banxico will release its latest economist survey, while the BCB’s weekly Focus survey will be also published.
    • Brazil IP data for February will cross on Wednesday, alongside the March services PMI. Mexico gross fixed investment figures for January will also be released.
    • On Thursday, Banxico will publish the minutes to its recent MPC meeting, when it started its easing cycle with a 25bp cut. Brazil February current account and March trade data will be released, alongside Colombia February export figures.
    • Brazil February budget balance data will cross on Friday, followed by the latest Banamex economist survey in Mexico.

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