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Nation Observes National Holiday, BCCh Minutes Thursday

CHILE
  • Chile is observing its second of two national holidays for Independence Day.
  • Last Thursday the Central Bank announced it will sell $200m in spot market this week:
    • Bank will sell $50m/day Sep. 20-23, according to a document on its website.
    • Will also rollover $2.09b in 28-day FX forwards and will buy $400m in FX swaps.
  • Focus this week will be on the release of the BCCh minutes of its September 06 meeting. Chile’s central bank surprised markets by delivering an above consensus 100bp hike from 9.75% to 10.75%.
    • The decision was not unanimous, with one of the five member board opting for a milder 75bp hike and another voting for a bold 125bp increase.

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