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Stock impact report

Chile Central Bank Slashes Interest Rate by Full Percentage Point as Inflation Withers [BNN Bloomberg (Canada)]

Credicorp Ltd. (BAP) 
Last credicorp ltd. earnings: 2/6 04:00 pm Check Earnings Report
US:NYSE Investor Relations: credicorp.gcs-web.com/investor-overview
Company Research Source: BNN Bloomberg
Four of the five policymakers voted to cut borrowing costs to 7.25% late on Wednesday, with the other backing a reduction of 125 basis points. The decision was forecast by 17 of 21 analysts in a Bloomberg survey, with three others predicting 75 basis points and one seeing 125 basis points. “The Board considers that the convergence of inflation to the 3% target would materialize sooner than expected,” policymakers said in the statement accompanying the decision. The key interest rate will “reach its neutral level during the second part of 2024.” Policymakers have now lowered borrowing costs by four percentage points since July as their 3% inflation goal comes into reach and domestic activity picks up very gradually. While other Latin American nations are also relaxing monetary policy, Chile has more room to do so because its economy fared far worse last year. Bets for steeper cuts were also juiced by December's drop in both the headline inflation rate and a core gauge that exclude Show less Read more
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