LatAm Daily | Pause in monetary policy rate in Chile and Peru, in line with expectations

Chile’s CB kept both MPR at 3.5% and a moderate hawkish bias. Peru’s CB also kept MPR at 4.25% due to a more benign inflation outlook. In Brazil, the BCB’s economic activity index unexpectedly contracted by 0.5% MoM in May. We expect GDP to contract again in 2Q16 and economic stabilisation to arrive only in 2H16.

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