Argentina’s government is resorting to old habits, having turned to deficit monetisation and drawing down the central bank’s FX reserves in recent weeks. While these unorthodox measures will help to service its dollar debts in the near term, it is an unnerving sign of the government moving towards Cristina Kirchner-style policies. Elsewhere, we think fears among Mexico’s central bank board that this year’s minimum wage hike will push up inflation are overdone. Finally, Q4 data suggest that the worst of the disruption to Chile’s economy following recent protests is over.
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