Mexico has yet to strike a deal with the US to prevent tariffs being imposed on Monday, but one crumb of comfort is that (so far at least) financial conditions haven’t tightened significantly. Elsewhere, Brazil’s pension reform is nearing the next stage – a full hearing in Congress – which is where the last government’s reform attempt died. Finally, the recent pick-up in Chilean wage growth and economic activity is likely to prevent a shift by the central bank towards easing when it meets later today.
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