One immediate macro impact of the change of government in Colombia later today will be on monetary policy, and a more hawkish central bank stance is on the cards in the near term. Elsewhere, the renewal of the swap line between the Argentine central bank and the PBoC underscores Argentina’s need to secure external financing as debt payments ramp up. Finally, this week's interest rate decisions brought slightly hawkish shifts in Brazil and Mexico, suggesting that the door to easing in Brazil is closing and that the next move in Mexico is likely to be a hike.
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