Chile cuts rates for fourth consecutive meeting

Board forecasts inflation will return to 3% target in 2024

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

The Central Bank of Chile cut its monetary policy rate for the fourth consecutive meeting on December 19, reducing it by 75 basis points to 8.25%. 

Since July, the central bank’s board has lowered the key rate by 300bp. All five of the board’s members, including governor Rosanna Costa, backed the cut. 

In its monetary policy statement, the board said “the convergence of inflation to the target will require further cuts in the [monetary policy rate]”. Inflation is falling but remains above the

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