ON WEDNESDAY, RIO DE JANEIRO, BRAZIL - Chile's policymakers may announce the most significant critical interest-rate hike in two decades. Still, even that is unlikely to shore up the battered peso.
The currency has fallen more than 11% in the second half of the year, the worst performance among 24 emerging-market peers tracked by Bloomberg. The peso plunged 2.6% last week alone, its most significant drop in two months.
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The drop came despite the Central Bank raising rates by 75 basis . . .