Chile: more interest rate cuts to come

Policymakers in Chile cut interest rates by 25bp to 3.50% last night and gave a clear indication that there is more monetary easing to come. If economic growth does not pick up as we expect,the risks to our forecast for just one more 25bp cut to 3.25% lie to the downside. Either way, the bigger picture is that interest rates will remain extremely low to the end of 2016.

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