Credit Suisse warns of ‘new world order’ in markets

Reuters

EMERGING MARKETS-Mexican, Chilean pesos lag Latam FX on economic growth worries

* Chilean peso falls with lower copper prices * Mexico financial system stable, global risks weigh -central bank * Argentina central bank hikes interest rates by 300 bps (Updates prices, adds market strategist’s comment) By Shreyashi Sanyal and Bansari Mayur Kamdar June 16 (Reuters) – Currencies in both Mexico and Chile trimmed some early losses on Thursday, but still lagged peers in Latin America on worries about economic growth, taking cues from a global rout sparked by aggressive monetary tightening to tame sky-high inflation. The U.S. Federal Reserve raised rates by 75 basis points on Wednesday followed by two other spates of policy tightening in Britain and Switzerland on Thursday, rekindling investor fears that aggressive actions could drag economies into recession.

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