Chile’s central bank paves the way for July rate cut

The Monetary Policy Report released by Chile’s central bank today alongside the communications to yesterday’s policy meeting have reinforced our view that the easing cycle will commence in July. We expect a cumulative of 200bp of cuts, to 9.25%, this year. But the central bank’s surprisingly dovish tone means that the risks to our forecasts, in the near-term, are skewed towards more aggressive easing.

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