Javascript is disabled in your web browser.
Please, to view this site correctly,
enable javascript.
For instructions to enable javascript
In your browser, click here.
The price of the dollar fell sharply this Wednesday, after the Central Bank opened the door to a pause in the reduction of rates and raised its growth and inflation forecasts, which mitigates the pressures due to rate differentials that have been exerting negative pressure. to the Chilean peso.
The local parity fell $10.12 to $926.05 before midday, according to Bloomberg data, while the US market is closed for Emancipation Day. The dollar-peso thus marks what could be consolidated as its first important movement of the week.
The cups swap they soared by up to 20 basis points (bp), since the Central Bank lowered the Monetary Policy Rate (MPR) by 25 bp, as expected, but also anticipated a pause in the cuts. And in this morning’s Report, it postponed until 2026 the convergence to the 3% inflation goal, amid greater growth.
“The Central Bank communicated a more restrictive rate scenario, in the sense that it would implement reductions more gradually, raise the rate corridor a little and end up leaving the MPR higher than previously expected,” he told D.F. the chief economist of BICE Inversiones, Marco Correa. “On that side, this greater appreciation of the Chilean peso would be occurring,” he stated.
The economist highlighted the “important magnitude” by which the inflation outlook was adjusted due to the impact of higher electricity rates. Looking outside, he noticed that the rise in copper 0.63% to US$ 4.48 per pound in the Comex contract and a slight fall in the global dollar would be contributing, although to a lesser extent, to the decline in the exchange rate.
At the close of Monday, foreign agents had reinforced their bet against the peso to more than US$ 4 billion, but with the latest news, “those positions should become less negative, and go to something closer to US$ 1 billion “, Correa anticipated.
