Minutes of the June 2016 Monetary Policy Meeting of the Central Bank of Chile

CHILE - In Brief 05 Jul 2016 by Igal Magendzo
The Minutes reaffirms our perception that the Central Bank is increasingly opening the door to a potential cut of the TPM in the (not so near) future. Only tow Board Members showed certain hawkish bias.In addition, the diagnosis of the economy has become increasingly pessimistic.At the international level there are two issues that dominate concerns. On the one hand, was the potential Brexit (the meeting was before the poll). On the other hand, it continues to debate the future course of the Fed Funds rate.With respect to economic activity and inflation, in general terms, the view of the Board is simmilar to the last Monetary Policy Report. Special emphasis was placed on the poor prospects for investment and the labor market.

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