LatAm Daily| Chile’s CB maintained MPR at 3.5% and moderated the restrictive tone

Summary

The CB announced that the pace will be data-dependent on inflation figures and suppressed the gradualism of policy rate normalisation. With this information at hand we expect the Board to validate a neutral bias for policy rates and a prolonged pause during the year. In Brazil, data released yesterday is in line with a fall in GDP again in 1Q16.

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