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MNI BCCh Preview - June 2024: Smaller 25BP Cut Expected, Caution To Prevail

Chile’s central bank is expected to slow the easing pace further in June and cut the overnight rate by 25bp to 5.75%.

LatAm Bank - PreviewHomepageCentral Bank of Chile - PreviewEM Central Bank ReportsEM Central Bank PreviewEmerging Market News

Executive Summary

  • Chile’s central bank is expected to slow the easing pace further in June and cut the overnight rate by 25bp to 5.75%.
  • While options of both 25bp and 50bp may be on the table, the BCCh is likely to side with consensus expectations, as they did in May.
  • The aggressive easing cycle to this point and a recent hawkish shift for both LatAm and global central banks further bolster the likelihood of a 25bp cut.
  • The release of the monetary policy report on June 19 will be key in providing greater clarity on the short-term trajectory for central bank policy.

Click to view the full preview:

MNI Chile Central Bank Preview - June 2024.pdf

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Executive Summary

  • Chile’s central bank is expected to slow the easing pace further in June and cut the overnight rate by 25bp to 5.75%.
  • While options of both 25bp and 50bp may be on the table, the BCCh is likely to side with consensus expectations, as they did in May.
  • The aggressive easing cycle to this point and a recent hawkish shift for both LatAm and global central banks further bolster the likelihood of a 25bp cut.
  • The release of the monetary policy report on June 19 will be key in providing greater clarity on the short-term trajectory for central bank policy.

Click to view the full preview:

MNI Chile Central Bank Preview - June 2024.pdf