*Chile’s central bank (BCCh) has announced it is cutting interest rates by 25 basis points to 5.75%. This follows a reduction of 50 basis points in May and 75 basis points in April. The BCCh began reducing the benchmark interest rate in July last year, after maintaining a rate of 11.25% since October 2022. In a statement, the BCCh said that Chile’s macroeconomic scenario had evolved as expected, although with domestic demand growing somewhat more than expected in the first quarter. It stated that the local economy had returned to a growth path consistent with expectations and inflation had continued to decline, with two-year inflation expectations remaining at 3%.
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LatinNews Daily - 19 June 2024
In brief: Chile’s central bank continues to lower interest rates
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