LatinNews Daily - 06 September 2023

In brief: Chile further reduces interest rates

* Chile’s central bank (BCCh) has announced that it is reducing its benchmark interest rate by 75 basis points to 9.5%. This follows a reduction of 100 basis points at its previous monetary policy meeting in July. Prior to that, the rate had been maintained at 11.25% since October. In a statement, BCCh noted that inflation was continuing to decline globally, while both core and headline inflation in Chile were continuing to decline, although they remained high, while economic activity was developing as expected. Annual headline inflation in Chile stood at 6.5% in July, while core inflation stood at 8.5%.

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