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Central Bank Minutes Scheduled

CHILE
  • Shortly before the bottom of the hour, the BCCh will publish their minutes from the October meeting.
    • As a reminder the Chile Central Bank hiked rates by a surprise 125bps to 2.75%.
    • Markets will be awaiting details of the bank's policy outlook as well as an explanation on the move to terminate the dollar purchase program prematurely.
    • With the BCCh so far raising rates by 25bps, 75bps and 125bps, market participants will look for clues on the future magnitude of hikes for the December meeting and beyond.
  • USDCLP has been under pressure this week, however, dips remain to be considered technically corrective, with additional lingering fundamental tailwinds for the Peso. Initial support for the pair lies at 796.68, the 50-day EMA.
  • No local data until tomorrow, where unemployment, retail sales and production data are all due.

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