Rates round-up: Chile accelerates tightening

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

Chile: The Central Bank of Chile has accelerated the monetary policy tightening process it started in 2021.

In the first meeting under governor Rosanna Costa, on March 29, the board unanimously voted in favour of increasing interest rates by 150 basis points. This takes the key policy rate to 7%.

The institution started off this cycle in July 2021, when interest rates still stood at the record low of 0.5%. Persistently high inflation has demanded the central bank to accelerate this tightening

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