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Front End Of Camara Curve Shifts Lower Following BCCh

CHILE
  • Strong pressure on the Chilean peso during yesterday's session following the BCCh rate decision and statement.
  • Despite initiating their tightening policy, the statement was considered marginally dovish with the central bank committee appearing comfortable with inflation developments and expectations.
  • The Camara curve steepened with front end swap rates falling to reflect less aggressive initial tightening.

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