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CHILE: BCCh Traders Survey Due, Treasury to Sell Peso Bonds

CHILE
  • The central bank is expected to publish the latest survey of traders at 1330BST/0830ET. Notably, yesterday’s survey of Economists showed the consensus forecast for a 25bp cut in September and left the year-end forecast of 5.25% unchanged. Ahead of the July meeting, these surveys had been split, with the traders’ survey correctly predicting the BCCh to pause its easing cycle.
  • Domestic focus will then swiftly turn to Friday’s publication of the minutes to last month’s monetary policy meeting, where the views of the committee will be analysed for clues on whether the easing cycle pause could be prolonged. Goldman Sachs have said they will be particularly attentive to how directors weigh the higher expected headline inflation with weaker-than-expected non-mining GDP growth.
  • Separately, Chile’s Treasury is set to sell peso bonds due in 2030, 2040 and 2056 as well as CPI-linked bonds due in 2044 in the local market.

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