Chilean board makes 11th hike, but says cycle may be over

Central Bank of Chile board
The Central Bank of Chile's five-member board

The Central Bank of Chile’s board raised its policy rate on October 12, but said this would probably be the last of this cycle.

The board raised the rate by 50 basis points, to 11.25% – its 11th in a row since July 2021. But it said it would likely hold rates at its next meeting, after inflation decelerated in September. In total, the board has raised rates by 1,075bp in the last 15 months.

The board said it “estimates that the monetary policy rate has reached its maximum level of the cycle

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