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Constitutional Convention Approved Central Bank Autonomy Proposal

CHILE
  • After the FOMC meeting later today, domestic focus will turn to the BCCh decision on Thursday.
  • The median expectation is for the BCCh to raise rates by 100bps to 8.00% with 9/13 analysts forecasting this scenario.
  • From the Bloomberg survey, three analysts expect less aggressive action, with two calling for a 50bp hike and one for a 75bp increase. One surveyed analyst, combined with a preview seen by MNI are both expecting the BCCh to maintain their most recent 150bp hiking pace on Thursday.
    • The full MNI preview with analyst views will be published later today.
  • According to presentation of first Public Finances Report under President Gabriel Boric in Senate Finance Committee on Tuesday, Chile will see 1.5% ‘22 GDP growth.
  • Chile’s Constitutional Convention approved Tuesday a proposal declaring the country’s central bank an autonomous body of technical nature.

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