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Goldman Sachs Particularly Watchful To Arguments On Slowing The Easing Pace

CHILE
  • In tomorrow’s BCCh minutes, Goldman Sachs will be particularly watchful to the arguments considered by the MPC for slowing the pace of cuts to 75bp from the 100bp cut in July and their preferences for the pace at which the easing cycle should continue going forward. Likewise, GS will be particularly attentive to whether the MPC evaluated the possibility of cutting the policy rate by a greater or lesser extent and the arguments why these were discarded.
  • Given the IPoM revisions, GS look forward to a discussion among Directors on their evaluation of the macroeconomic backdrop and the reasons that drove the MPC to adopt a more dovish forward guidance.
  • They also anticipate a discussion among Board members on how tight monetary policy should remain going forward as inflation continues its downward trend towards the central bank’s 3.0% inflation target. In this matter, Goldman Sachs look forward to a discussion among Directors on the implications that higher policy rates in core economies could have on the level of rates domestically.
  • Finally, GS will be on the lookout for a discussion on the Board’s assessment of the main risks to inflation, with a focus on the most recent CLP depreciation.
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