Chile raises rates

The Central Bank of Chile voted on Thursday to hike rates by 25 basis points to 6.25%.

Economists had mixed views on whether the board would cut or hold rates this time.

The central bank said the action was "consistent with prospects of higher inflation due to recent surprises, and allows annual inflation to converge to 3% [the central bank's medium-term target] over the policy horizon."

Inflation in December - which took the annual rate of inflation to almost 8% - was, the central bank said,

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