MNI China Daily Summary: Wednesday, Dec 4

MNI: Toronto Nov Home Sales Jump 40% From Year Ago As BOC Cuts

MNI: UK FINAL NOV SRVCS PMI 50.8 (FLASH 50.0); OCT 52.0

MNI BRIEF: China Must Quicken Reforms To Boost Domestic Demand

MNI: PBOC Net Drains CNY227 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1934 Weds; -1.91% Y/Y

MNI: US MBA: MARKET COMPOSITE +2.8% SA THRU NOV 29 WK

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

MNI: EUROZONE OCT PPI +0.4% M/M, -3.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BCCh Review - Hawkish Surprise

CHILE
  • Chile’s central bank surprised markets overnight by delivering an above consensus 100bp hike to the monetary policy interest rate 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.”
  • However, the board remains “especially vigilant of the upward risks for inflation” while also noting that inflation expectations two years ahead remain above the target.
  • Focus turns to the central bank’s release of the quarterly monetary policy report, scheduled for 1400BST/0900ET.
  • The minutes will be released on September 22 and the next BCCh decision/statement will be published on October 12.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.