22 de February, 2022
GPM: the best indicator to anticipate the decisions of the Central Bank
Chile, these past few years, has been experiencing a historical process that spans over political, social and economic planes, facing dilemmas and key questions specifically regarding the latter, which have been reflected in the growth, productivity and economic diversification of the nation.
Due to this scenario, the Monetary Policy Group (GPM) of the Faculty of Economics and Business of the Universidad de Chile, composed by the first-rate macroeconomics experts Carlos Budnevich, Tomás Izquierdo, Juan Pablo Medina and FEN academics Guillermo Le Fort and Eugenia Andreasen hold monthly meetings in which they advise the Central Bank on economic matters.
Analyzing the main economic facts of the previous month, the projections for one and two years of inflation and growth, the GPM holds a debate regarding the available monetary policy options and delivers its recommendation to the issuing entity prior to the official meeting of the latter.
It is in this way that the group created in 2002 has been contributing to the systematic analysis of the country’s monetary policy to promote an orderly and well-founded debate on said policy, so that it is the best possible with respect to its purposes.
In the recommendations delivered by the GPM in its monthly communications, where they briefly present the main facts and projections taken into account, the expertise of the members of the group is ratified, their suggestions concurring with what is finally defined by the Central Bank.
Coinciding with what is dictated by the issuing entity on a monthly basis in terms of Chile’s monetary policy, the GPM has an extensive history of two decades advising the discussions of the issuing institution in the conceptual framework of inflation goals.
Learn more about the Monetary Policy Group here
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