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125BP Hike Best Conveyed The Change in Inflationary Scenario: Minutes

CHILE
  • “All five Board members agreed that the option of raising the MPR by 125bp could best communicate the change in the inflationary scenario, conveying special concern about the persistence of inflation. They coincided that a stronger monetary policy reaction was necessary to prevent future adjustments whose cost burden would be heavier in terms of employment and activity.”
  • - “One Board member (PG) added that an increase of 125bp also had the merit of bringing the MPR somewhat closer to both the level and the time at which it would reach its ultimate rate, whichever it might be. In any case, he noted, this matter would become clearer after the review of the medium-term projections in the next Report.”
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