MNI BRIEF: Fed's Goolsbee Taking Job Gains With Grain Of Salt

BRIEF: EU Says Engaging With China Over EV Trade Dispute

MNI BRIEF: Draghi Calls For Tariffs, Subsidies Against China

MNI BRIEF: China May M2 Slows To Record Low Again

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

US Treasury Auction Calendar

MNI: BAKER HUGHES US RIG COUNT 590; OIL RIGS 488; GAS RIGS 98

EZ/UK Bond Supply Calendar: Slovakia, Belgium, BoE APF Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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

Goldman Sachs Believe Data To Determine BCCh Easing Pace

CHILE
  • Despite not wanting to surprise markets, in practice, the BCCh Board has changed their guidance frequently throughout this cycle and been very sensitive to some macro data prints and changes in external conditions, according to Goldman Sachs. While it is clear that the MPC wants to continue with an aggressive easing cycle towards a neutral monetary policy stance, GS believe the pace of cuts going forward will depend on incoming data and global financial conditions.
  • According to Goldman Sachs, they believe the BCCh minutes strengthen the unequivocally dovish tone conveyed in the post-meeting statement. The MPC assessed that the downward inflationary surprise in December—both in headline and core— was “important” and in its opinion the lower-than-expected CPI prints in recent months “raise questions about the level of the output gap.”
  • The MPC hinted that the FX pass-through from recent depreciation of the peso could be weaker, in their assessment, given lower external prices, soft domestic demand, weakness in China, and the prospect that companies could accommodate higher import prices.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.