- In one line: Industrial sector stabilises, but outlook remains weak.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Cooling inflation meets new headwinds.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Core pressures lingering, but disinflation resumes.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil’s inflation is stabilising, but the US tariffs shock threatens growth and adds new inflation risks.
- Market reaction has been swift, but fundamentals and carry still support a stable BRL outlook.
- Services inflation remains sticky and disinflation could stall if external strains persist or escalate.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Sales extend their slide as headwinds mount.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Inflation falls again; BCCh likely to cut rates.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil — New highs, but risks cloud the outlook
- Mexico — Rally cools as policy risks resurface
- Chile — IPSA steadies post-rally, with upside scope
Andrés Abadía (Chief LatAm Economist)Latin America
- Chile’s CPI drop strengthens the case for a July rate cut, as disinflation in key categories gains traction.
- Fading shocks and a stronger CLP support disinflation; BCCh signals rates are moving towards neutral.
- Colombia’s inflation has fallen below 5%, but sticky services and fiscal noise keep BanRep cautious.
Andrés Abadía (Chief LatAm Economist)Latin America
- Mexico’s private consumption showed resilience in early Q2, but high interest rates weigh heavily.
- Capex continues to fall sharply amid trade-policy uncertainty and low business confidence.
- External demand remains the main support for growth, as domestic momentum weakens further.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Manufacturing slumps as mining props up output.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Growth holding up, but momentum set to slow in H2.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazilian Real — Rebound tests fiscal resolve
- Mexican Peso — Rally faces growing headwinds
- Colombian Peso — Currency strength facing fiscal test
Andrés Abadía (Chief LatAm Economist)Latin America
- Growth momentum is fading in Chile as temporary drivers wane and consumption stabilises.
- Industrial production is still strong, led by mining, but job-market weakness remains a threat.
- Political polarisation and election uncertainty are rising, posing new risks to policy and capex.
Andrés Abadía (Chief LatAm Economist)Latin America
- Deep BanRep Board divisions and sticky inflation expectations are delaying further rate cuts.
- Rising fiscal deficits and political noise are under- mining policy credibility and investor confidence.
- Stronger growth gives limited relief as inflation risks and external pressures continue to build.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Banxico cuts again, but rising inflation and a split Board signal a slower, more cautious easing cycle ahead.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Inflation eases slightly, but risks persist.
Andrés Abadía (Chief LatAm Economist)Latin America
- Banxico cuts rates, but rising inflation and Board split signal slower, more cautious easing ahead.
- Disinflation is emerging in Brazil, but policy is still tight amid lingering core pressures and fiscal uncertainty…
- …The Selic will likely be held at 15%, as the BCB sees easing risks outweighing fragile disinflation.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Benign inflation print supports a cautious Banxico rate cut.
Andrés Abadía (Chief LatAm Economist)Latin America
- The benign inflation report supports a 50bp cut, but a divided Banxico will likely slow the easing pace in H2.
- Services inflation is sticky; housing, wage and food costs are delaying disinflation despite a MXN rebound.
- Private demand and capex lead growth in Argentina, but external imbalances and fiscal risks remain high.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Solid start to Q2, but consumption faces headwinds.
Andrés Abadía (Chief LatAm Economist)Latin America
