Macroeconomic Forecast Chile

BMI View: Chile's consumer price index continued to inch up in December, reaching 4.4% y-o-y, well above the upper limit of the 2.0% to 4.0% range targeted by the central bank. The rise in prices was mostly due to higher transportation and utility prices, according to the national statistical agency. As inflation shows no sign of subsiding in Chile, we reiterate our view that the central bank could potentially delay the beginning of a new easing cycle of monetary policy until Q212.

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