Brazil’s government will begin its vaccination programme next week but, in the near term, the severity of its COVID-19 outbreak and the discovery of a more infectious variant means lockdown measures could be tightened further. And other risks to the outlook – including the withdrawal of policy support and the threat of a truck drivers’ strike next month are growing. Elsewhere, the Chilean central bank’s plans to replenish its FX reserves suggest that it is concerned that the busy political calendar could put the currency under renewed pressure.
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