CHILE: Feb CPI Inflation Expected To Remain Above Target Range Tomorrow
Mar-06 17:12
- CPI inflation is expected to edge down by 20bp to 4.7% y/y in February, according to the median estimate of surveyed economists, keeping the headline rate above the upper bound of the BCCh’s 2-4% target range. In m/m terms, prices are seen rising by 0.4%, following a 1.1% gain in January, amid the electricity tariff hike. While food and energy inflation may have picked up last month, core inflation looks set to have edged lower, albeit remaining above target.
- BBVA says that the data will give the BCCh scope to remain on hold and await further clarity on inflationary trends. They say that an inflation print in line with expectations should sustain that pricing and would likely have limited impact on the currency. Conversely, a downside print could drive some dovish pricing beyond the 6m horizon, likely pushing back on CLP strength at the margin, although global macro developments are likely to remain in the driving seat.
- HSBC believes that side-effects from the final electricity tariff hike in January will still be felt, but with diminishing intensity. This will be an important print to gauge how strong the aftershocks of electricity tariff hikes have been, a key variable for the central bank.
- Scotiabank says that solid economic figures and this high inflation print means there are no imminent BCCh cuts ahead.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
FED: US TSY TO SELL $64.000 BLN 17W BILL FEB 05, SETTLE FEB 11
Feb-04 17:05
- US TSY TO SELL $64.000 BLN 17W BILL FEB 05, SETTLE FEB 11
FED: US TSY TO SELL $90.000 BLN 8W BILL FEB 06, SETTLE FEB 11
Feb-04 17:05
- US TSY TO SELL $90.000 BLN 8W BILL FEB 06, SETTLE FEB 11
FED: US TSY TO SELL $95.000 BLN 4W BILL FEB 06, SETTLE FEB 11
Feb-04 17:05
- US TSY TO SELL $95.000 BLN 4W BILL FEB 06, SETTLE FEB 11
