Report
Chile: Monetary Policy Meeting Preview - Approaching neutrality
The moderation in inflation and economic weakness will prompt the BCCh to cut its policy rate sooner than we had anticipated, reaching the nominal neutral rate range of 3.5–4.5% this year. Specifically, we forecast a 25 bps rate cut to 4.75% on the 29 July monetary policy meeting . In fact, after the release of the June CPI in early July, we lowered our December forecast for the policy rate to 4.25% from 4.50%. We also lowered our terminal rate forecast to 3.75% from 4.00%.
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Natixis
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Benito Berber
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