Chile cuts monetary policy interest rate to 6.5%

Unanimous decision comes in wake of economic upturn

Central Bank of Chile
Photo: Central Bank of Chile/Flickr

The Central Bank of Chile (BCCh) cut its monetary policy rate for the fifth consecutive time on April 2, reducing it by 75 basis points to 6.5%.

Inflation was 5% year on year in October 2023, decreasing to 3.8% by January 2024 and returning to 4.5% by the end of February.

The monetary policy rate reached a recent high of 11.25% in October 2022, and the central bank began cutting rates in July 2023. Since then, it has cut rates by 475 basis points.

The five-member board made the decision

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