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BCCh Minutes Scheduled For 1230BST/0830ET

CHILE
  • On September 6, Chile’s central bank surprised markets by delivering an above consensus 100bp interest rate hike from 9.75% to 10.75%. The decision was not unanimous, with one of the five member board opting for a milder 75bp hike and another voting for a bold 125bp increase.
  • Differing from previous monetary policy statements, the board stepped away from guiding the future path of policy, highlighted by the following paragraph:
  • “With this decision, the MPR is at the maximum level considered in the central scenario of the September Monetary Policy Report. Future movements of the policy rate will depend on the evolution of the macroeconomic scenario and its implications for the convergence of inflation to the target.”
  • Link to statement here: https://www.bcentral.cl/en/content/-/details/monetary-policy-meeting-september-2022

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