May 17, 2024 17:22 GMT
Week Ahead: Focus On Chile Rate Decision, Banxico Minutes, Mexico Bi-Weekly CPI
LATAM
- Next week, focus will be on the BCCh interest rate decision on Thursday when the central bank is expected to slow the pace of easing to 50bp, following Q1 GDP data published earlier in the week. Also on Thursday, Banxico will release the minutes to its recent MPC meeting when it kept rates at 11.0%, while attention will be on latest economic activity and bi-weekly CPI data.
- On Monday, the BCB will publish its weekly Focus survey, while Mexico retail sales data for March will cross. In Chile, Q1 GDP is expected to rise by 2.0% q/q and 2.5% y/y, while Q1 current account data will also be released.
- Colombia March trade data are published on Tuesday, followed by April trade figures from Argentina. The latest Banamex survey of economists will also be published.
- On Wednesday, Argentina economic activity data for March are released, alongside Colombia retail and industrial confidence figures.
- In Mexico, the final estimate of Q1 GDP growth is set to remain unchanged at 1.6% y/y on Thursday. March economic activity and bi-weekly CPI data for the first half of May are also due. Headline inflation is expected to edge up to 4.73% y/y, while core moderates to 4.30%. Banxico will also release the minutes to its May MPC meeting, while in Chile the central bank is set to cut its overnight rate by another 50bp to 6.0%. Peru Q1 GDP will also cross.
- Q1 current account data will be published in Mexico on Friday, alongside April trade data. Brazil April current account and FDI and Chile PPI inflation data are also due.
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