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Scotiabank's Latam Daily previews a Banco de la República decision in which a 25bp hike is expected amid economic slowdown and moderating inflation expectations. Latam currencies, including the MXN and COP, have gained against the dollar in March, with the COP posting the region's top performance at 4.2%.
Risk-on sentiment has lifted regional FX.
A Colombian rate hike and a firmer peso lower the local-currency cost of dollar-priced feed imports, which modestly eases input costs for Colombian feed buyers. The effect on grain and meal prices themselves is small.
scotiabank.comMar 29, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
