LatAm Daily | Chile’s CB kept policy rate at 3.5% and modified its restrictive tone

Summary

In Chile’s MP meeting, the probability of Brexit as well as expected lower growth in 2Q16 and decrease in May’s inflation affected the board’s decision. We interpret it as a hawkish tone for the MPR. In Brazil, Tombini's BCB sees inflation at 4.5% in 2017, but no room for Selic cut; Goldfajn's BCB to keep rates stable. Moreover, activity remained stable in April in Brazil.

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