Runoff risk kicks in: Chile’s first round has delivered the most polarised runoff in decades with Jara vs. Kast on 14th December. Markets are shifting from quiet confidence to cautious hedging. Policy on hold: The Central Bank kept rates at 4.75% at its October meeting. Core inflation is still sticky and the next move hinges on the 16th December MPM and the 17th December IPoM. Peso steady but exposed: CLP trades in the 945 to 965 range despite weaker copper and global risk. No capital controls, no black market signals, but a Fed surprise could crack the calm. Regulation turns real: The Expanded Credit Registry goes live in November, digital-advice rules are now in force and Basel III refinements start applying in this month’s reporting cycle. Execution, not design, is now the story.
Chile closes November with a steady macro façade but growing tension underneath. Rates remain on hold, headline inflation is easing and the Peso has weathered yet another month of global volatility. ...
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