Latam FX kickoff December lower; Brazil’s real extends slide
Live Mint* Brazil to seek corporate income tax adjustment in 2025 * Analysts boost Mexico GDP forecast, c.bank survey shows * MSCI Latam FX index down 1.2%, stocks down 1% By Pranav Kashyap and Johann M Cherian Dec 2 - Most Latin American currencies started the last month of the year on a dour note on Monday, with the Brazilian real continuing its downward trajectory following a fiscal package that failed to satisfy market expectations. Brazil's incoming central bank chief, Gabriel Galipolo, noted that the current economic scenario suggests "higher interest rates for longer," and emphasized that exchange rate policy would continue to focus on intervening only during times of dysfunction. A survey showed private sector analysts raised their expectations for economic growth in the region's second largest economy to 1.53% this year, up 13 basis points from their prior forecast a month earlier. Key Latin American stock indexes and currencies: Latin American market prices from Reuters MSCI Emerging Markets 1086.5 0.74 MSCI LatAm 1978.28 -1.02 Brazil Bovespa 125572.87 -0.08 Mexico IPC 50441.37 1.26 Chile IPSA 6639.86 0.96 Argentina Merval 2295431.5 1.644 1 Colombia COLCAP 1394.1 0.14 Brazil real 6.069 -1.61 Mexico peso 20.396 -0.17 Chile peso 977.93 -0.49 Colombia peso 4457.5 -0.56 Peru sol 3.7425 -0.12 Argentina peso 1011 0.00 Argentina peso 1080 3.57