From The Rio Times · Lachlan Williams · · 2m
LatAm Expat & Nomad Daily Guide: Peru Raises Rates, Brazil Publishes Sales
Peru’s central bank hikes interest rate to 4.50% as Brazil releases retail sales data.
In brief
Peru’s central bank hikes interest rate to 4.50% as Brazil releases retail sales data. Peru raised its key interest rate to 4.50% from 4.25% on Thursday, and Brazil publishes retail sales for September at 7:00 a.m. ET today. Originally reported by The Rio Times.
Peru Interest Rate
Peru’s central bank raised its key rate to 4.50% from 4.25% on Thursday, the first change in 14 months.
“Peru raised its key rate to 4.50% from 4.25% on Thursday. It is the first change in 14 months, and the central bank pointed to rising inflation.”
Argentina Inflation
Argentina’s October inflation was 2.2%, above the 1.9% in our economic calendar, with prices up 33.1% over twelve months.
“Argentina’s October inflation was 2.2%, above the 1.9% in our economic calendar. Prices are up 33.1% over twelve months, slightly slower than September’s 33.4%.”
Brazil Real Weakens
Brazil’s real weakened about 1% on Thursday, with R$1,000 buying about US$178, down from US$180 on Wednesday.
“Brazil’s real weakened by about 1%, and Colombia’s official dollar rate is about 0.15% weaker than yesterday’s.”
Colombia Peso Weakens
Colombia’s peso weakened 0.15% to 3,301.91 pesos per US$1, down from 3,297.07 on Thursday.
“The official rate (the TRM) in force today is 3,301.91 pesos per US$1, about 0.15% weaker than Thursday’s.”
Mexico Peso Stable
Mexico’s peso closed Thursday at 18.6020 per US$1, unchanged from Wednesday’s 18.6005.
“The peso closed Thursday at 18.6020 per US$1, unchanged from Wednesday’s 18.6005, and that is a market close, not an official rate.”
Argentina Peso Stable
Argentina’s wholesale rate was 1,545.50 pesos per US$1, with the blue rate selling at 1,565.
“The wholesale rate (the official interbank rate) was 1,545.50 pesos per US$1 on Thursday, and the blue (informal) rate sold at 1,565.”
Brazil Retail Sales
Brazil publishes retail sales for September at 7:00 a.m. ET today, with a forecast of −0.2% for the month.
“Brazil: retail sales for September; forecast −0.2% for the month against 0.1% before.”
Colombia Industrial Production
Colombia publishes industrial production for September at 10:00 a.m. ET today, with a forecast of −0.8%.
“Colombia: industrial production for September; forecast −0.8% against −3.7% before.”
Colombia Retail Sales
Colombia publishes retail sales for September at 11:00 a.m. ET today, with a forecast of 8.7%.
“Colombia: retail sales for September; forecast 8.7% against 7.3% before.”
Mexico Holiday
Mexico observes Revolution Day holiday on Monday 16 November, a public holiday for the country.
“Mexico: Revolution Day holiday; Monday 16 November is the Revolution Day holiday.”
Colombia Holiday
Colombia observes Cartagena’s independence holiday on Monday 16 November, a public holiday for the country.
“Colombia: holiday for the Independence of Cartagena (11 November 1811 declaration, observed on a Monday).”
Brazil Holiday
Brazil observes Black Consciousness Day on Friday 20 November, a national holiday honouring Afro-Brazilian history.
“Brazil: Black Consciousness Day, a national holiday honouring Afro-Brazilian history.”
Argentina Holiday
Argentina observes Sovereignty Day holiday on Monday 23 November, a public holiday for the country.
“Argentina: Sovereignty Day holiday (moved from Friday 20).”
Weather Outlook
No new tropical cyclone is expected to form in the North Atlantic, Caribbean Sea or Gulf of America over the next 7 days.
“The US National Hurricane Center expects no tropical cyclone to form in the North Atlantic, the Caribbean Sea or the Gulf of America, the US name for the Gulf of Mexico, over the next 7 days.”
Prediction Markets
Prediction markets show a 93% chance of no change in Bank of Mexico’s December rate decision.
“Bank of Mexico Decision in December Polymarket: no change about 93.0%, a 0.25-point cut about 7.0%.”
Peru Inflation
Peru’s inflation rose to 5.3% in October, the central bank cited as the reason for the rate hike.
“Inflation rose to 5.3% in October; the next decision is Thu 10 Dec, and the bank said the rise does not by itself signal a series of hikes.”
In short
Peru raised its key interest rate to 4.50% from 4.25% on Thursday, and Brazil publishes retail sales for September at 7:00 a.m. ET today.
