Latin America Publications
Below is a list of our Latin America Publications for the last 6 months. If you are looking for reports older than 6 months please email info@pantheonmacro.com, or contact your account rep
Please use the filters on the right to search for a specific date or topic.
- Brazil, Colombia, and Chile’s central banks diverge in their monetary policy decisions, but caution prevails.
- BCB maintains Selic rate at 10.50%, emphasizing vigilance given inflation pressures and fiscal risk.
- BanRep cuts rate to 10.75%, Chile holds at 5.75% amid mixed economic signals and inflation threats.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Resilient but slowing, amid domestic and external challenges.
Andrés Abadía (Chief LatAm Economist)Latin America
LATAM ECONOMIES SHOWING RESILIENCE...
- ...AMID POLICY CHALLENGES AND GLOBAL UNCERTAINTY
Andrés Abadía (Chief LatAm Economist)Latin America
- Mexico’s economic growth slowed in H1; nearshoring and public spending saved the day.
- Economic activity is facing challenges amid high political uncertainty and elevated interest rates.
- Weak external conditions and policy risk add to the difficult environment over the coming quarters.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil’s current account deficit is widening, driven by both domestic factors and global headwinds.
- Mexico’s trade balance has deteriorated, hit by fewer oil exports and ongoing manufacturing weakness.
- Both nations must address economic uncertainties; tight financial conditions will keep a lid on imports.
Andrés Abadía (Chief LatAm Economist)Latin America
- LatAm policymakers face complex challenges due to inflation, currency volatility and policy uncertainty.
- Brazil will likely hold rates, as the currency sell-off and fiscal concerns dampen easing expectations.
- The central banks in the Andes will continue to cut rates, on the back of stable inflation and poor growth.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Core inflation remains under control, giving Banxico room for manoeuvre, despite the ugly headline.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil’s IPCA-15 inflation overshot expectations, driven by transportation and housing costs.
- Brazil’s currency sell-off increases inflation risks, complicating COPOM’s monetary policy decisions.
- Mexico’s headline inflation jumped in mid-July, due largely to a non-core inflation spike; core is subdued.
Andrés Abadía (Chief LatAm Economist)Latin America
- Latin American trade balances have improved amid currency weakness and commodity-price rebounds.
- Brazil, Chile, Peru and Argentina are posting trade surpluses; deficits narrow in Colombia and Mexico.
- Regional economic stabilisation efforts are leading to results in external trade accounts, but risks remain.
Andrés Abadía (Chief LatAm Economist)Latin America
- The Mexican economy sent positive signals in May amid domestic political uncertainty and global risk.
- The service and construction sectors drove May’s growth; retail sales reflect an economic deterioration.
- Election-linked fiscal stimulus will wane; high rates and political risk are clouding the economic outlook.
Andrés Abadía (Chief LatAm Economist)Latin America
- Colombia’s and Argentina’s economies are recovering, amid persistent challenges and uncertainty.
- Agriculture is driving economic growth in Colombia, but construction and commerce are struggling.
- Fiscal consolidation has improved Argentina’s balance sheet but raises concerns about social impact.
Andrés Abadía (Chief LatAm Economist)Latin America
- The Latin American recovery faces headwinds as the US presidential election looms large on the horizon.
- Mr. Trump’s potential return to power threatens to disrupt LatAm economies and trade relations.
- Mexico is the most directly exposed, and Brazil the least vulnerable, to a potential Trump presidency
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil — Senate grapples with tax-break dilemma
- Mexico — President-elect appoints her cabinet
- Chile — Boric navigates pension and energy reforms
Andrés Abadía (Chief LatAm Economist)Latin America
- Colombia’s manufacturing sector is struggling, while Peru’s economy is showing outstanding resilience.
- High interest rates and inflation dampen Colombia’s growth; domestic demand is improving in Peru.
- Political uncertainty is hindering Colombia’s recovery; Peru’s outlook is brightening, despite politics.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil’s economy continues to show resilience in Q2, supported by a strong labour market.
- The outlook for H2 is positive, despite challenges, but tight financial conditions will hurt in 2025.
- Argentina’s inflation continues to undershoot, bolstering confidence in Milei’s stabilisation plan.
Andrés Abadía (Chief LatAm Economist)Latin America
- Peru's BCRP held rates for a second straight meeting, amid sticky core inflation, but eyes future easing.
- A mixed performance for Mexico's industrial sector: construction is solid, manufacturing is struggling.
- Banxico's minutes lean towards a rate cut in August; softening economic activity supports this view.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Temporary pressures but underlying trends under control.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil’s underlying inflation picture remains in check, but political and economic risks are intensifying.
- BCB faces a complex scenario as the labour market and private consumption appear resilient, for now.
- Retail sales surged in May despite economic headwinds, beating expectations.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil — Positive outlook amid improving conditions
- Mexico — Navigating turbulence
- Colombia — Reforms, challenges and signs of recovery
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Core improvement amid weather-driven pressures.
Andrés Abadía (Chief LatAm Economist)Latin America
