The Fed's announcement Thursday of an open-ended program to inject cash into the US economy might have cheered Latin American stock markets momentarily, but the biggest effect might already have been felt, analysts at Capital Economics said in a note. They expect markets in the region to fall by about 10% over the next year. QE3 will improve investor sentiment, but evidence the previous two rounds of asset purchases helped markets in Latin America is thin. Other events, such as a turn for the worse in Europe's debt crisis, could also lessen the positive impact of QE3, Capital Markets said.
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