From: "andrew cooke" <andrew@...>
Date: Wed, 19 Nov 2008 22:04:43 -0300 (CLST)
I know the central bank isn't going to talk the country down, but this is pretty impressive anyway - http://www.bcentral.cl/eng/policies/presentations/board-members/pdf/2008/jdg18112008.pdf The chart on page 32 is particularly eye-catching. I guess the issue now is: how do you tackle inflation *and* recession? Is inflation really going to just disappear? I think I will still be investing in a UF account (our "emergency fund" (in a fixed term deposit with short term penalty access) is about to expire and I need to decide whether to invest in pesos or UF (index linked) - if prices drop then UF makes no sense...) Andrew
On the Other Hand
From: "andrew cooke" <andrew@...>
Date: Thu, 27 Nov 2008 07:11:47 -0300 (CLST)
I didn't realise the recent inflation was an explicit devaluation - http://www.bloomberg.com/apps/news?sid=ac.FOzb.JUTk&pid=20601086 Andrew
Chilean Liquidity Crisis, November 2008
From: "andrew cooke" <andrew@...>
Date: Mon, 1 Dec 2008 07:10:34 -0300 (CLST)
Some details of what happened here last month - http://www.businesschile.cl/portada.php?w=old&id=694&lan=en Andrew
Another Positive Assessment of Chile's Position
From: "andrew cooke" <andrew@...>
Date: Wed, 10 Dec 2008 23:08:45 -0300 (CLST)
"Latam watchers ought to ask themselves not only which countries can avert a crisis, but also which ones have the most levers to pull in order to lean against the strong global headwinds. And on both of these counts – namely macro stability and the ability to engage in counter-cyclical policies – Chile seems to be in a league of its own." http://www.morganstanley.com/views/gef/archive/2008/20081125-Tue.html#anchor7229 Andrew