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CHILE: BCCh Traders Survey Due At 1130GMT

CHILE
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  • The BCCh will publish its latest traders survey at 1130GMT(0630ET), which will include market participants interest rate forecasts ahead of the January 28 monetary policy meeting. Recent survey data have indicated that the central bank is expected to pause its easing cycle at 5.00% next week, amid near-term inflation pressures.
  • Indeed, the previous traders survey revealed that market participants also see the BCCh remaining on hold at the subsequent MPC meetings in March and April, as the policy rate approaches its neutral level. With the central bank adopting a more cautious tone, the policy rate is seen falling gradually to around 4.50% over the course of this year.
  • USDCLP closed 1.24% lower yesterday at 991 amid a more buoyant risk backdrop, bringing the pair to the lowest level since Dec 27. The move narrowed the gap to firm support at 987.21, the 50-day EMA, a clear break of which would highlight potential for a deeper retracement and open 966.86, the Dec 6 low.
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  • The BCCh will publish its latest traders survey at 1130GMT(0630ET), which will include market participants interest rate forecasts ahead of the January 28 monetary policy meeting. Recent survey data have indicated that the central bank is expected to pause its easing cycle at 5.00% next week, amid near-term inflation pressures.
  • Indeed, the previous traders survey revealed that market participants also see the BCCh remaining on hold at the subsequent MPC meetings in March and April, as the policy rate approaches its neutral level. With the central bank adopting a more cautious tone, the policy rate is seen falling gradually to around 4.50% over the course of this year.
  • USDCLP closed 1.24% lower yesterday at 991 amid a more buoyant risk backdrop, bringing the pair to the lowest level since Dec 27. The move narrowed the gap to firm support at 987.21, the 50-day EMA, a clear break of which would highlight potential for a deeper retracement and open 966.86, the Dec 6 low.