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Dovish Dissenter With One Member Voting For Even Larger 125bp Cut

CHILE
  • Dovish dissenter with one member voting for an even larger 125bp cut
  • "The Council considers that the convergence of inflation to the 3% target would materialize sooner than expected in the December Report and that the MPR would reach its neutral level during the second part of 2024."
  • "The magnitude and timing The process of reducing the MPR will take into account the evolution of the macroeconomic scenario and its implications for the trajectory of inflation. The Board reaffirms its commitment to act with flexibility in the event that any of the internal or external risks materialize and macroeconomic conditions so require."
  • "In December, total and core inflation showed negative monthly variations, which were below what was expected in the last Report. It highlighted an important difference in the underlying components of goods and in most of the volatile ones. With this, its annual variation continued to decrease, reaching 3.9 and 5.4% annually for the total and underlying CPI, respectively."
  • Link to BCCh statement: https://www.bcentral.cl/web/banco-central/contenid...

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