Fynsa
The Chilean economy is in such a state of disarrangement that it cannot act as it is accustomed to in this type of situation.
The year-on-year variation would reach 12.7%, unfortunately for those who expect inflation to ease a little in the coming months.
Although the "less bad" Imacec data would avoid technical recession, this does not mean that there is reason for optimism.
The Central Bank Board opted not to surprise agents, which is quite informative with respect to the future hiking cycle
The work that Central Banks are doing now has little to do with controlling current inflation.
For the time being, we continue to expect an increase in the TPM to reach a maximum level of 9.5%.
We must put ourselves in the pants and skirts of the Central Bank Advisors and anticipate what is to come for the rate over the next few months.
The big question is: should the Central Bank backtrack on the IPoM and continue with the aggressive increases in TPM?
