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CHILE: BCCh Minutes Due At 1230BST/0730ET

CHILE
EM BulletBulletGlobalEmerging Market NewsRegion
  • The market reopens following a three-day holiday last week, with attention on the BCCh minutes to the Sept 3 monetary policy meeting, which will be published at 1230BST(0730ET). At that meeting, the central bank delivered the expected 25bp cut to 5.50%, in a unanimous decision, but struck a more dovish tone, signalling a faster convergence of the policy rate towards a neutral level.
  • Given indications recently that one of the directors may have proposed a 50bp cut at the meeting, attention will on the extent to which the committee considered the possibility of a larger cut. The market will also be watchful for the board’s description of the balance of risks for inflation, as well as any indication for preferences on the pace of rate cuts ahead.
  • Prior to the national holiday, USDCLP closed at 931.85 last week, well above support at 904.48, the Aug 26 low. Resistance is seen at 951.80, the Sep 10 high.
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  • The market reopens following a three-day holiday last week, with attention on the BCCh minutes to the Sept 3 monetary policy meeting, which will be published at 1230BST(0730ET). At that meeting, the central bank delivered the expected 25bp cut to 5.50%, in a unanimous decision, but struck a more dovish tone, signalling a faster convergence of the policy rate towards a neutral level.
  • Given indications recently that one of the directors may have proposed a 50bp cut at the meeting, attention will on the extent to which the committee considered the possibility of a larger cut. The market will also be watchful for the board’s description of the balance of risks for inflation, as well as any indication for preferences on the pace of rate cuts ahead.
  • Prior to the national holiday, USDCLP closed at 931.85 last week, well above support at 904.48, the Aug 26 low. Resistance is seen at 951.80, the Sep 10 high.