MNI BRIEF: BOE Ramsden Could Back Faster Rate Cuts

MNI China Daily Summary: Wednesday, November 20

MNI BRIEF: Chinese Aluminium Exporters To Renegotiate Prices

MNI: PBOC Net Injects CNY69.1 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1935 Weds; +0.09% Y/Y

EZ/UK Bond Supply Calendar: Spain, France Auction; UK Tender

US EIA: CRUDE OIL STOCKS EX SPR +0.54M TO 430.3M NOV 15 WK

MNI: US MBA: MARKET COMPOSITE +1.7% SA THRU NOV 15 WK

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

CHILE: BCCh Still Expected To Cut Rates Next Week

CHILE
EM BulletBulletGlobalEmerging Market NewsRegion
  • Yesterday’s softer-than-expected CPI inflation data kept the door open to another BCCh interest rate cut next week. The decline in headline inflation was driven by very benign non-core food and energy prints, and although core ex-volatiles inflation ticked up to 3.8% y/y, core services inflation eased last month.
  • JP Morgan says that the fact the downward surprise in September came on volatile prices should not alter the BCCh’s decision to continue trimming the policy rate by 25bp next week. Meanwhile, Goldman Sachs sees headline inflation ending the year at 4.5% (vs. 4.7% before), in line with the central bank’s forecast. They expect the next sizeable increase to electricity tariffs to take place in October with the cumulative Jun-Oct increase to reach close to 44% of an almost 60% cumulative increase foreseen through early 2025.
  • Today, no macro data are due, with attention on tomorrow’s BCCh economist survey and next week’s traders survey, which will confirm market interest rate expectations ahead of the Oct 17 MPC meeting.
164 words

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.
  • Yesterday’s softer-than-expected CPI inflation data kept the door open to another BCCh interest rate cut next week. The decline in headline inflation was driven by very benign non-core food and energy prints, and although core ex-volatiles inflation ticked up to 3.8% y/y, core services inflation eased last month.
  • JP Morgan says that the fact the downward surprise in September came on volatile prices should not alter the BCCh’s decision to continue trimming the policy rate by 25bp next week. Meanwhile, Goldman Sachs sees headline inflation ending the year at 4.5% (vs. 4.7% before), in line with the central bank’s forecast. They expect the next sizeable increase to electricity tariffs to take place in October with the cumulative Jun-Oct increase to reach close to 44% of an almost 60% cumulative increase foreseen through early 2025.
  • Today, no macro data are due, with attention on tomorrow’s BCCh economist survey and next week’s traders survey, which will confirm market interest rate expectations ahead of the Oct 17 MPC meeting.