Our Latin America Economics Chart Pack has been updated with the latest data and our analysis of recent developments.
Activity in many parts of the region, and Brazil in particular, slowed in Q2. Mexico was a key exception, although we doubt that the robust Q2 marks the start of a marked pick-up in growth. Meanwhile, the inflation picture across Latin America has become a bit more benign, which, alongside weaker growth should give central banks room to cut policy rates by more than most are currently anticipating. Current account positions in many parts of the region have deteriorated amid a sharp rise in imports, which underpins our view that Latin American currencies will come under pressure going forward.
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