07:13 AM EDT, 10/17/2024 (MT Newswires) -- Scotiabank noted that Chile's central bank will make its policy announcement at 5 p.m. ET on Thursday.

BCCh is almost universally expected to roll out a 25bps cut to 5.25%, but it may show a more guarded tone regarding upcoming meetings amid external risks and possible upside inflationary pressure from loose fiscal policy, stated the bank.

Somewhat counterintuitively, S&P upgraded its outlook for Chile from negative to stable on Wednesday, staying at A, pointed out Scotiabank. The ratings agency notes "We think the government's commitment to fiscal consolidation will stabilize its debt ratios in the coming years."