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CHILE: BCCh Traders Survey Due At 1230BST

CHILE
  • In a press release on Friday, Finance Minister Mario Marcel announced measures to speed up capital repatriation, saying that a transitory rule will allow taxpayers to voluntarily declare foreign assets and income to the tax regulator and pay a 12% substitute tax. He said that the preferential rate will be available until the end of November.
  • Buoyed by a rebound in copper prices on Friday, the Chilean peso closed 0.73% stronger against the dollar, at 924. For USDCLP, a further move lower through the 20-day EMA, at 922.50, would signal the end of the latest bull phase and refocus attention on support at 891.28, the Sep 27 low.
  • Today, the BCCh will publish its latest traders survey at 1230BST(0730ET), which will include market participants interest rate forecasts for the upcoming monetary policy meeting later this week. Last week’s equivalent economist survey revealed that analysts expect another 25bp rate cut to 5.25% on Thursday.
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  • In a press release on Friday, Finance Minister Mario Marcel announced measures to speed up capital repatriation, saying that a transitory rule will allow taxpayers to voluntarily declare foreign assets and income to the tax regulator and pay a 12% substitute tax. He said that the preferential rate will be available until the end of November.
  • Buoyed by a rebound in copper prices on Friday, the Chilean peso closed 0.73% stronger against the dollar, at 924. For USDCLP, a further move lower through the 20-day EMA, at 922.50, would signal the end of the latest bull phase and refocus attention on support at 891.28, the Sep 27 low.
  • Today, the BCCh will publish its latest traders survey at 1230BST(0730ET), which will include market participants interest rate forecasts for the upcoming monetary policy meeting later this week. Last week’s equivalent economist survey revealed that analysts expect another 25bp rate cut to 5.25% on Thursday.