Central Bank of Chile cuts interest rates for first time in 18 months

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The Central Bank of Chile has cut interest rates for the first time in 18 months amid sluggish domestic demand, lower-than-expected inflation and lingering uncertainty about monetary and fiscal developments in the US.

The central bank announced yesterday it had lowered its main interest rate by 25 basis points to 4.75%, adding that it anticipated a further deceleration in demand and a "slower normalisation" towards the bank's 3% inflation target.

"The market was waiting for this cut for quite so

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