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elEconomistaAmérica.com | Chile
– 5:43 – 19/10/2018
Photo: Archivo
The Central Bank Council decided to raise the key rate of monetary policy by 25 basis points, leaving it at 2.75. %, this being the first increase since the end of 2015.
The decision of the Central Bank was taken unanimously and occurred in the middle of a division market expectations as to whether this increase would be October or at the December meeting.
This resolution examined "capacity deficits have been reduced over the last quarters and will continue to do so in accordance with the projected monetary policy report, which will pinpoint total and current inflation. underlying approximately 3% in the coming quarters ".
In this sense, the Council affirmed that "we must begin to reduce monetary stimulus so that the inflation outlook remains close to the goal".
That, knowing that in the base scenario of the Monetary Policy Report, " the TPM will converge towards its neutral level in 2020, the timely commencement of this process allows for gradual and cautious ".
According to the above-mentioned entity, will provide " the necessary space for the Council to define the appropriate rate of withdrawal of the monetary stimulus ", which reaffirms its commitment to "conduct monetary policy flexibly" , so the projected inflation is 3% over two years. "
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