1 Jul 2015
CLP outlook stays neutral – BAML
FXStreet (Edinburgh) - In the view of analysts at BAML, the stance for the Chilean peso remains neutral for the time being.
Key Quotes
“We stay neutral the Chilean peso”.
“Copper prices have declined 11% in the last month and the economy has lost some momentum”.
“On the positive side, the exchange rate has adjusted to lower terms of trade and the trade balance is well into surplus”.
“Persistently high core inflation has ruled out the possibility of rate cuts and may lead the central bank to turn more hawkish in coming months”.
“We like long CLP against COP or PEN to avoid outright USD exposure”.
Key Quotes
“We stay neutral the Chilean peso”.
“Copper prices have declined 11% in the last month and the economy has lost some momentum”.
“On the positive side, the exchange rate has adjusted to lower terms of trade and the trade balance is well into surplus”.
“Persistently high core inflation has ruled out the possibility of rate cuts and may lead the central bank to turn more hawkish in coming months”.
“We like long CLP against COP or PEN to avoid outright USD exposure”.