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Goldman Sachs Say Sustaining Restrictive Stance Warranted

CHILE
  • Goldman Sachs expect the MPC to remain on hold, keeping its policy rate unchanged at 11.25%. They also foresee cautious forward guidance in anticipation of the March IPoM and inflation print to be released later in the week.
  • In their assessment, sustaining the restrictive monetary stance is warranted as inflation remains in double digits and is highly disseminated, end-2023 and 2024 inflation expectations inched-up further above target, the current account deficit remains wide (although moderating), activity has been more resilient than anticipated, nominal wage growth has accelerated, and central banks in advanced economies have continued to raise rates.

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