01/08/2023
Chile to start rate cuts, signaling more across the region
"This cut by (Chile's central bank) will help test the waters and let us know what the market's 'mood' is like," said Andres Abadia, chief economist for Latin America for Pantheon Macroeconomics, adding that other countries will be watching how the local market and currency react. "We expect rate cuts in Brazil next week, and other countries will join this trend starting in October."
The expected cut has already led to a rally with the local stock market hitting record highs after breaking the 6,000-point barrier for the first time in mid-July.
