Rates likely to stay on hold, says Chilean monetary policy report
Inflation expected to be in target range by year-end, latest monetary policy report forecasts show
The Central Bank of Chile does not foresee a need to hike interest rates over the next two years, its latest monetary policy report has revealed.
Published on September 6, the report said "there seems to be no need for new hikes to the monetary policy rate over the (two-year) policy horizon" if recent economic trends continue.
Since December, the central bank has kept the benchmark interest rate on hold at 3.5%. Its baseline forecast sees inflation ending the year at 3.5%, within the target band of 2–4%.
International financing conditions remain a major risk to the outlook, the report said, with the path the Federal Reserve chooses for its interest rate likely to prove "critical".
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