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Chile continues rate cuts
Central bank lowers policy rate as economy shows signs of slowing
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The Central Bank of Chile cut its policy rate for the second consecutive meeting on September 5. The board unanimously voted for a 75 basis point reduction, to 9.5%, following a 100bp cut in late July.
Like other Latin American countries, Chile has begun unwinding rate increases as prices stabilise in the wake of the Covid-19 pandemic and the start of the Ukraine war. Inflation in Chile peaked at 14.1% year on year in August 2022, nearly five times the central bank’s 3% inflation target. In
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