Chile’s Costa on tackling inflation, forex interventions and nowcasting

Chilean governor discusses stubbornly high prices, Fed spillovers, reserve buffers, retail CBDC and unconscious bias

Rosanna Costa, Central Bank of Chile
Rosanna Costa, Central Bank of Chile
Photo: Banco Central de Chile/Flickr

You took on the role of president of the central bank in February 2022 at a time when the Chilean economy faced a global inflationary shock, volatile commodity markets and as the country underwent a constitutional reform process. How do you assess the central bank’s response?

It is a challenging moment for all countries, for all central banks and policy-makers. We are focused on controlling inflation, which is very high. Our goal is very clear: 3% inflation two years from now. We make decisions

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