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CHILE: BCCh Release Minutes of December 17 Meeting

CHILE
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  • BCCh Minutes of the December 17 meeting here:https://www.bcentral.cl/documents/33528/6796954/Minute+MPM+december+2024.pdf/84c34641-0707-02e9-e51b-f590990f2b3c?version=1.0&t=1735933510781
    • "...Board Members considered that the plausible options at this meeting were: (i) to reduce the MPR by 25 basis points (bp); and (ii) to keep the MPR at 5.25%."
    • "Regarding the 25 bp cut option, it was noted that it was consistent with both the process of reducing the level of monetary policy tightening initiated in mid-2023 and the convergence of inflation to the 3% target over the two-year policy horizon."
    • "About the option of holding the MPR flat, some Board members said that, in their opinion, this alternative gave more weight to present risks and better reflected the discomfort represented by an inflation of 5%, with short-term risks biased upwards."
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  • BCCh Minutes of the December 17 meeting here:https://www.bcentral.cl/documents/33528/6796954/Minute+MPM+december+2024.pdf/84c34641-0707-02e9-e51b-f590990f2b3c?version=1.0&t=1735933510781
    • "...Board Members considered that the plausible options at this meeting were: (i) to reduce the MPR by 25 basis points (bp); and (ii) to keep the MPR at 5.25%."
    • "Regarding the 25 bp cut option, it was noted that it was consistent with both the process of reducing the level of monetary policy tightening initiated in mid-2023 and the convergence of inflation to the 3% target over the two-year policy horizon."
    • "About the option of holding the MPR flat, some Board members said that, in their opinion, this alternative gave more weight to present risks and better reflected the discomfort represented by an inflation of 5%, with short-term risks biased upwards."