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Week Ahead: Focus On BCCh minutes and Colombia GDP

LATAM
  • US January CPI inflation data will be on the radar on Tuesday, with both the headline and core rates set to moderate further. After Brazil returns from carnival on Wednesday, focus will be on the Chile central bank minutes and Colombia Q4 GDP data.
    • Mexico ANTAD same-store sales data for January and Colombia January consumer confidence will be published on Monday.
    • Colombia will release December IP, retail sales and trade data on Wednesday. Activity has remained weak recently, with IP -3.0% y/y and retail sales -3.4% y/y in November. The trade deficit is expected to narrow to $200mn in December, from $762.1mn prior. Argentina January CPI inflation will also cross, with another large double-digit m/m gain on the cards and the y/y rate moving above 250%.
    • Chile will release the minutes to its latest monetary policy meeting (when it cut by 100bp) on Thursday. Of interest will be any discussions on FX weakness and the possible implications for the rate cutting cycle. Also in the docket, Colombia Q4 GDP (+0.8% y/y exp. vs. -0.3% prior) and Peru December economic activity data (+0.4% y/y exp. vs. +0.3% prior). The BCB weekly economist survey will also be published.

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