Chile cuts monetary policy interest rate to 6.5%
Unanimous decision comes in wake of economic upturn
The Central Bank of Chile (BCCh) cut its monetary policy rate for the fifth consecutive time on April 2, reducing it by 75 basis points to 6.5%.
Inflation was 5% year on year in October 2023, decreasing to 3.8% by January 2024 and returning to 4.5% by the end of February.
The monetary policy rate reached a recent high of 11.25% in October 2022, and the central bank began cutting rates in July 2023. Since then, it has cut rates by 475 basis points.
The five-member board made the decision
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