Chile Traders Bet on a Jumbo Rate Cut in April, Propping Up Gains for Peso Bonds [BNN Bloomberg (Canada)]
Banco De Chile Banco De Chile ADS (BCH)
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Source: BNN Bloomberg
even larger cut at the next meeting — though the Federal Reserve could still upset the party. Seven of 11 analysts and traders in a monthly Bloomberg survey expect policymakers to cut the key rate by 1.25 percentage points in April, the biggest reduction since 2009. The bank lowered borrowing costs by one point to 7.25% last week, speeding up monetary easing for the second consecutive meeting. “The decision of the central bank to accelerate the cut at this meeting with respect to the previous one reflects that inflationary convergence is already a reality,” said Alexis Vega, head of market making at Banco de Credito e Inversiones in Santiago. “This means that there is still more room for a steeper cut, possibly 125 basis points in April.” Bonds rallied on last Wednesday's rate cut, with the yield on 2026 peso-denominated sovereign notes dropping as low as 2.55% from 2.79% at the end of the week before. Over 90% of those surveyed by Bloomberg expect nominal yields to fall further
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BCH
Earnings
- 7/31/23 - Beat
BCH
Analyst Actions
- 4/16/24 - JP Morgan
BCH
Sec Filings
- 4/26/24 - Form 20-F
- 4/26/24 - Form 6-K
- 4/17/24 - Form 6-K
- BCH's page on the SEC website