Chilean rates reach five-year high

Chile's central bank lifted its overnight lending rate to the highest in five years, and suggested that additional tightening is likely to be needed to keep inflation anchored around the 3% inflation target.

Policymakers lifted the rate by a quarter percentage point to 5.50%. "The increase in prices for some non-perishable foods and fuels has extended, which has added to unusual increases in prices for various perishable goods, which should in large part be temporary," the central bank said in