Chilean board members wary of low inflation

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Central Bank of Chile board members expressed concern over the country's low inflation and high wage growth in their January meeting, but voted unanimously to hold the benchmark interest rate at 5%.

One member said there was a growing risk that "inflation would remain very low for longer than forecast". Year-on-year inflation fell to 1.5% in December 2012, down from 2.1% the previous month.

The board noted that wages were growing at a faster rate than Chile's low inflation could explain, which

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