Central Bank of Chile cuts rate again as currency remains at five-year low

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The Central Bank of Chile (CBC) yesterday cut its policy interest rate for the third time since October, bucking a trend that has seen monetary authorities in several emerging markets hike rates to curb capital outflows spurred by tighter monetary conditions in the US.

The CBC lowered the rate by 25 basis points to 4.25% – down from 5% in October – while noting that the Chilean economy has "continued to lose strength" and that domestic output and demand "have grown less than assumed" in the bank

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