Chile announces first rate rise in a year

The Central Bank of Chile raised interest rates for the first time in a year and hinted that there was more to come. In a widely anticipated move, the central bank's five-strong board raised rates 25 basis points to 5.25%.

Higher prices for fuel and food together with less "slack" in the economy had pushed CPI inflation slightly above 3% - higher than had been expected in the most recent Monetary Policy Report and above the mid-range of the 2-4% band the central bank targets.

"In this scenario of

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