Chile cuts to record low

The Central Bank of Chile cut its benchmark rate to an all-time low of 1.25% on Thursday.

The half-point cut, which was more than analysts expected, means the central bank has now cut rates by 700 basis points since the start of the year.

"Unemployment has increased. Tight lending conditions persist, although they are reflecting the impact of the increased monetary stimulus," the central bank said. "In April, inflation indicators showed reduced inflationary pressures. Wage dynamics continue t