- 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
- 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
- Banxico cut, but one dissenting vote signals caution as inflation expectations drift further from the target.
- Forward guidance was softer; the Board dropped the reference to steady cuts, indicating a possible pause.
- Weak domestic demand supports disinflation; real rates remain well above neutral.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Inflation eases slightly, but risks persist.
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
- In one line: Solid start to Q2, but consumption faces headwinds.
Andrés Abadía (Chief LatAm Economist)Latin America
- The COPOM defied consensus, raising the Selic to 15.00%, and signalled a hawkish extended pause.
- Persistent inflation and deanchored expectations are keeping Brazil’s policy tight despite activity slowing.
- Chile’s BCCh paused again; easing will depend on data amid resilient growth and global headwinds.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: COPOM surprises with a 25bp hike but signals a pause.
Andrés Abadía (Chief LatAm Economist)Latin America
- A stronger BRL and improved food supply helped ease headline inflation pressures in Brazil in May.
- Services and regulated prices continue to drive core inflation above the BCB’s 3% target.
- The BCB will hold rates, but fiscal risk and global uncertainty threaten to derail the recent price stability.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Recovery maintaining a solid pace, but external headwinds still loom.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Boosted by agriculture and capex, but momentum set to fade.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Retail softens in April, but growth momentum is holding up.
Andrés Abadía (Chief LatAm Economist)Latin America
- A record agricultural harvest fuelled Brazil’s Q1 growth, but momentum is likely to slow.
- Services and capex held up, while industrial output shrank due to restrictive monetary policy.
- The job market’s resilience complicates the COPOM’s position, but conditions will deteriorate soon enough.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Inflation eases slightly, but risks persist.
Andrés Abadía (Chief LatAm Economist)Latin America
- Mexico’s current account deficit narrowed sharply in Q1, thanks to resilient exports and remittance inflows.
- Financial inflows weakened amid US trade tensions, global volatility, and domestic political uncertainty.
- The proposed US remittance tax and economic slow- down threaten to disrupt Mexico’s external stability.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Mexico’s economy outperforms in Q1, but risks loomlarge.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Q1 surge driven by agriculture; broader gains show resilience.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Q1 growth solid, but momentum set to ease.
Andrés Abadía (Chief LatAm Economist)Latin America
