Chile hikes by half a point

The Central Bank of Chile on Thursday raised its key rate half a point to 7.25% on the back of a deteriorating inflationary outlook.

The central bank said that at a 14-year high of 9.5%, the annual inflation statistic for June far exceeded forecasts due to surges in energy and food prices: "The oil price has remained high, while the prices of most commodities have increased again. Inflationary pressures have intensified around the world."

Though inflation had soared, second quarter growth had

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