MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday

MNI BRIEF: PBOC Increases Gold Reserves

CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Scotiabank: BCCh To Raise MPR By 125 Bps

CHILE
  • Chile’s inflation of 0.5% m/m in November did not surprise Scotia, but it slightly exceeded market prices (forwards 0.44%), explained by non-volatile products and more strongly evidencing the depreciation of the Chilean peso and its second-hand effects.
  • The central bank has no alternative but to continue signaling the normalization of monetary policy and prepare for a complex scenario for long-term inflationary expectations.
  • The de-anchoring of inflation expectations 24 months ahead has been accentuated, with a survey median that has risen from 3.3% to 3.5% in the last month. For now, only expectations 35 months ahead remain anchored at 3%, which could be challenged if Mr. Gabriel Boric (left) is elected president.
  • All in all, inflation remains above historical records and the exchange rate has continued to depreciate, incubating additional pressures on costs. The labour market remains dynamic while credit has begun to flow again. Private consumption has exceeded the expectations of the last Monetary Policy Report and the central bank will have to adjust up its GDP growth projection for 2021 from the range 10.5–11.5% to a point estimate between 11.5% and 12%.
  • Scotiabank expect the CB to hike the MPR by 125 bps, evaluating alternatives between 100 bps and 150 bps.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.