Even an interest-rate hike won’t save Chile’s peso, the worst emerging-market currency -Bloomberg

While the currency advanced 2% in the week ending October 8 following the surprise 75 basis point rate hike, it erased all of those gains the following week.

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.

Read also: Check out our coverage on Chile

The drop came despite the Central Bank raising rates by 75 basis . . .

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