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MNI BCCh Review - January 2024: Steps Up Easing Pace Again, As Expected

MNI Chile Central Bank Review - Jan 2024

MNI Chile Central Bank Review - Jan 2024

Executive Summary

  • The Board of the Central Bank of Chile decided to cut the monetary policy interest rate by 100bp to 7.25%. The decision was not unanimous, with one member (Luis Felipe Céspedes) voting for an even larger 125bp cut.
  • While this matched the median surveyed estimate, some had called for a more moderate 75bp move and so once again this may be perceived as BCCh adopting a more dovish stance.
  • All analysts believe the statement struck a dovish tone and some see a similar cut in April as the most likely outcome.

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MNI BCCh Review - January 2024.pdf

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