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BCCh Rate Decision Due After Close, MNI Preview Attached

CHILE
  • USDCLP reversed Monday's move lower to trade back to 750 following the above expectation CPI data from the U.S. Softer dollar indices may indicate a more positive open for the Peso in the final trading session before the July BCCh meeting, after the close at 2300BST/1800ET.
  • The Chilean Central Bank are likely to hike the key interest rate by 25bps to 0.75%. Following previous signals within the minutes, creeping inflationary pressures and a more benign Covid backdrop, the BCCh are expected to commence a gradual tightening cycle at their July meeting.
  • The full preview with analyst views can be found here:
  • https://roar-assets-auto.rbl.ms/documents/10787/MNI%20BCCH%20Preview%20-%20July%202021.pdf

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