MNI China Daily Summary: Tuesday, September 24

MNI BRIEF: Ueda Says BOJ Unable To Predict US Soft Landing

CORRECTED-MNI BRIEF: Depreciation Pressure On Yuan Eases-Pan

MNI BRIEF: BCB Gradual Hike To Monitor Data - Minutes

MNI BRIEF: Conditions For PBOC Bond Trading Are Maturing - Pan

MNI BRIEF: China To Recapitalise Six Large State-owned Banks

MNI: GERMANY SEP IFO BUSINESS CLIMATE INDEX 85.4

RBA SAYS BOARD NOT "RULING ANYTHING IN OR OUT"

MNI: RBA HOLDS CASH RATE AT 4.35%

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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

CHILE: Finance Minister Flags 2025 Fiscal Deficit Cut, BCCh Economist Survey Due

CHILE
EM BulletBulletGlobalEmerging Market NewsRegion
  • The Chilean peso was supported by a rebound in copper prices yesterday, with USDCLP closing marginally lower around 945. Having cleared resistance at 940.53, the Aug 16 high, attention for USDCLP is on 953.93 next, the Aug 6 high. First support is at 929.46, the 20-day EMA.
  • Finance Minister Marcel said yesterday that the upcoming 2025 budget will reveal a big reduction in the fiscal deficit, as the government presses on with its plan to halve the deficit next year. In an interview in London, he said that the structural deficit is going to be close to 1% of GDP, which he said would mean that the volume of gross financing needs next year won’t be too different from this year. The budget proposal must be presented to Congress by the end of this month.
  • Meanwhile, the BCCh will publish its latest economist survey at 1230BST(0730ET), with updated forecasts for inflation and interest rates. They survey comes after last week’s MPC meeting, when the central bank struck a more dovish tone as it cut rates by 25bp to 5.50%, saying that it will reduce rates to a neutral level at a faster pace than previously expected.
194 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.
  • The Chilean peso was supported by a rebound in copper prices yesterday, with USDCLP closing marginally lower around 945. Having cleared resistance at 940.53, the Aug 16 high, attention for USDCLP is on 953.93 next, the Aug 6 high. First support is at 929.46, the 20-day EMA.
  • Finance Minister Marcel said yesterday that the upcoming 2025 budget will reveal a big reduction in the fiscal deficit, as the government presses on with its plan to halve the deficit next year. In an interview in London, he said that the structural deficit is going to be close to 1% of GDP, which he said would mean that the volume of gross financing needs next year won’t be too different from this year. The budget proposal must be presented to Congress by the end of this month.
  • Meanwhile, the BCCh will publish its latest economist survey at 1230BST(0730ET), with updated forecasts for inflation and interest rates. They survey comes after last week’s MPC meeting, when the central bank struck a more dovish tone as it cut rates by 25bp to 5.50%, saying that it will reduce rates to a neutral level at a faster pace than previously expected.