Chile minutes reveal commitment to hit inflation target

Board rejected proposal for another 25bp cut

The Chilean MPC

The minutes from the latest monetary policy meeting of the Central Bank of Chile reveal there was little appetite for a rate cut despite an anticipated widening in output gaps in the economy, with all five members agreeing to hold the policy interest rate at 4%.

Annual inflation had in the past four months increased by more than two percentage points to exceed the upper limit of the tolerance range around the inflation target. The board members also noted that they had lowered the policy rate by

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