| | | Subway Fare Hike Sets Chile Ablaze | | It's hard to keep up with the scorecard of countries and economies falling into crisis these days. It would take a much longer piece to list them all - but for this week let's focus on what is happening in Chile. | | The crisis in that country started, somewhat unexpectedly, back on Oct. 18 when students protested a tiny (.04 cent) hike in subway fares. The unrest escalated to the point that subway stations and government buildings were set on fire and President Sebastian Pinera called in the army to help restore order. | | What was initially a protest against a small subway fare increase turned into a broader discussion that dominates our times – wealth inequality. Chilean society has a stark divide between rich and poor. | | Watch the video | | If we can help you with any Foreign Exchange needs, please email foreignexchange@cnb.com or call (800) 447‑4133. | | Want to learn more about international finance, economics, and global events? Sign up for our other Foreign Exchange emails and videos! | | | | | | | Follow City National Bank on social media: | | | | | | Non-deposit investment products: | | • | Are not FDIC insured, | | • | Are not deposits or other obligations of City National Bank and are not guaranteed by City National Bank, and | | • | Are subject to investment risks, including possible loss of the principal invested. | | | | | This report is for general information and education only and was compiled from data and sources believed to be reliable. City National Bank does not warrant that it is accurate or complete. Opinions expressed and estimates or projections given are those of the authors as of the date of the report with no obligation to update or notify of inaccuracy or change. This report is not a recommendation or an offer or solicitation to buy or sell any financial instrument discussed. It is not specific investment advice. Financial instruments discussed may not be suitable for the reader. Readers must make independent investment decisions based on their own investment objectives and financial situations. Prices and financial instruments discussed are subject to change without notice. Instruments denominated in a foreign currency are subject to exchange rate and other risks. City National Bank (and its clients or associated persons) may engage in transactions inconsistent with this report and may buy from or sell to clients or others the financial instruments discussed on a principal basis. Past performance is not an indication of future results. This report may not be reproduced, distributed or further published by any person without the written consent of City National Bank. Please cite source when quoting. | | | | | | |
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