LatinNews Daily - 20 June 2023

In brief: Chile’s central bank maintains interest rate, hints at easing

* The board of Chile’s central bank (BCCh) has opted to maintain the benchmark interest rate at 11.25%, yesterday voting by 3-2 in favour of the move. In a statement, the BCCh noted falling inflation, which was running at an annual rate of 8.7% in May (down from 9.9% in April), and said that “the economy is going in the right direction”. It added that “if these tendencies continue, a reduction in the monetary policy rate will begin in the short term”. Policymakers are under pressure to lower borrowing costs in order to combat declining growth and investment.

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