Chilean central bank changes guidance and keeps policy on hold
Central Bank of Chile removes reference to continued normalisation as inflation returns to target range
The Central Bank of Chile dropped the reference to normalising monetary policy from its statement on August 11, as it held its benchmark rate at 3.5% again.
In previous months the board had stressed policy would "need to continue to normalise" to "ensure the convergence of inflation to the target". It tightened the benchmark rate twice last year, announcing 25-basis point hikes in both October and December.
However, minutes from its July meeting suggested a shift towards a more neutral stance on
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