Chile pauses rate hikes, but Peru continues tightening

Peruvian board carries on with policy meeting despite political turmoil

Latin America latam map

Chile: The Central Bank of Chile (BCC) held its reference rate at 11.25% on December 6, pausing a cycle of sometimes acute monetary tightening that began in July 2021.

The central bank made 11 consecutive increases from a pandemic low of 0.5%. The five-member board unanimously backed holding the rate steady. The policy-makers said they would “maintain the [policy rate] at 11.25% until the state of the macroeconomy indicates that this process has been consolidated”.

The board began rate hikes

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