LatAm Daily | Current account deficit declines in Brazil but remains high in Colombia

Summary

The CA deficit for November was lower than expected in Brazil. We expect it to continue declining in 2016. In contrast, in Colombia imports fell less than expected, such that the CA deficit in 2015 will likely be above our forecast. The relatively optimistic tone of the Chilean Monetary Policy Report suggests that two interest-rate hikes in 2016 are being contemplated.

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