Chile continues rate cuts
Central bank lowers policy rate as economy shows signs of slowing
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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