Chile to keep rates at record low until mid 2010

The Central Bank of Chile has indicated that, contrary to market expectations, it is likely to keep rates at a record low of 0.75% until at least the middle of next year.

The central bank said after cutting its monetary-policy interest rate by half a point on Tuesday that "in the most likely scenario, it will be necessary to maintain the monetary stimulus for a longer period than the one implicit in financial asset prices." The central bank added that keeping rates at record-low levels "permi