Chilean Peso Higher as Economic Activity Beats Forecasts
The Chilean peso advanced on speculations that monetary stimulus in Europe will bolster economic growth of the South American nation, which continues to beat analysts’ forecasts.
IMACEC, the central bank’s index of economic activity, grew 6.7 percent in January from a year ago, more than specialists have anticipated. The increase followed the December’s growth by 6.5 percent. Copper rallied 0.5 percent to $3.5175 per in New York yesterday. The metal makes up about a half of the country’s exports.
The European Central Bank is not expected to ease monetary policy at its meeting this week. Yet the bank may do so on later meetings as some of European finance ministers were criticizing austerity measures of various countries of the European Union.
USD/CLP 0.32 percent to close at 472.81.
If you have any questions, comments or opinions regarding the Chilean Peso, feel free to post them using the commentary form below.
Earlier News About the Chilean Peso:
- Peso Down After Chilean Central Bank Maintains Interest Rates (2013-02-15)
- Chilean Central Bank Keeps Interest Rates Stable, Peso Remains Weak (2012-11-13)
- Chilean Central Bank Does Not Say About Need for Weak Peso (2012-10-19)
- Chile's Central Bank Keeps Key Rate at 5%, Peso Stays Flat (2012-09-14)
- Central Bank of Chile Mentions Peso, Intervention Is Coming? (2012-08-18)