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  • Broad-based weakness in industry and services offsets agricultural strength in Brazil…
  • …Fiscal support is cushioning the slowdown; COPOM patience pushes back easing expectations to late Q1.
  • Policy remains near neutral in Peru, as inflation is still anchored and growth is running close to potential.

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Keywords for: 17 December 2025 LatAm Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence