Chilean central bank hikes rate more than expected
Central Bank of Chile says inflation and economic activity is rising faster than its forecasts
The Central Bank of Chile surprised markets and observers with a higher interest rate increase than expected after its policy meeting on January 26.
The monetary policy committee increased interest rates by 150 basis points to 5.5%. Most analysts had expected a maximum of 125bp increase.
This was the last policy meeting under governor Mario Marcel. He will leave the central bank this week to serve as finance minister under incoming president Gabriel Boric.
The MPC’s statement said that
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