Brazilian CPI slipped for the fifth consecutive month to lowest since March 2021
Annual inflation in Colombia ticked at 13.12%, this is the highest rate seen since 1999. Prices in Colombia seem to be diverging from LatAm economies, recent figures have shown a deceleration in Mexico and Brazil
While most central banks in the region have slowdown to of tightening, Colombia is set to extend its interest rate hikes. The difference between the 1yr market implied rate and spot for Chile is pricing around 500bps of rate cuts, Mexico is priced at around -100bps, while the Colombian equivalent is the only regional bank to expect rate hikes in the same time frame
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