Goldman Sachs
May 10, 2026
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Goldman Sachs reports a rate cut in Mexico to 6.50% signaling the cycle's end, alongside a rebound in Argentine industrial activity and rising energy-driven inflation in Chile and Ecuador.
Key Takeaways
- 1.Mexico's MPC cut the policy rate by 25bp to 6.50%, signaling the end of the rate normalization cycle despite persistent inflation risks.
- 2.Chilean headline inflation rose to 4.0% yoy in April, primarily driven by high energy and fuel price volatility.
- 3.Argentina saw a strong rebound in manufacturing and construction in March, though inflation expectations for 2026 continue to rise.
Table of Contents
- ARGENTINA
- CHILE
- COLOMBIA
- ECUADOR
- MEXICO
- Disclosure Appendix
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Authors
Alberto RamosSergio ArmellaSantiago TellezJorge Moscoso
Securities
USDMXNArgentine PesoCopper
Themes
Monetary Policy NormalizationEnergy-Driven InflationMacroeconomic Slack in Mexico
Regions
Latin AmericaMexicoArgentinaChile
