Chile CB slashes rates, leaves door open for more

Yesterday’s MPC statement suggested that Chilean policymakers will follow yesterday’s 50bp cut with more easing. The latest growth and inflation data have been weak, and there is a window for further rate reductions. We have now pencilled in an additional 50bp of cuts by year-end, taking the policy rate to 1.50%, and a further 25bp of cuts in Q1 of next year.

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