“It is very important that we consider that the Central Bank (BC) has a long-term view. As analysts have consistently said, the BC will modify the Monetary Policy Rate when it is convinced that a trend has been reached as a reflection of a long-term equilibrium situation,” said one of the expert economists.
Experts call for caution before ruling out a cut in the Monetary Policy Rate of the Banco Central in April, despite the fact that some analysts anticipate that the adjustment would occur in June, following the surprise inflation in January.
The price increase surprised market expectations in January, in addition to economic growth that was also above estimates last December.
With all these elements it is that the experts already assure that the Chilean economy is being “resilient”.
In this scenario, where the adjustment expected for the economy is showing more resistance than expected, all eyes are on the Central Bank, and when it might begin to cut the TPM.
Until a few weeks ago the market expected April to bring a first downgrade.
However, beyond the January surprise, the economist from the PKF consultancy, Hector Osorio indicates that the board of the issuing institute will be more attentive to the long-term trend.
similar vision manifested Jorge Sepulveda, Economist and academic from the Faculty of Economics and Business of the Santo Tomás University.
This expert who considers that January inflation is influenced by seasonal components.
In this sense, he pointed to March as a key month to read how inflation will behave in this part of the year.
The data for March might also be key, considering that the next Central Bank Monetary Policy Meeting.
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