Central Bank of Chile Cuts Rate
April 3, 2024
The Central Bank of Chile has reduced its policy interest rate by a further 75 basis points, matching analyst expectations. There has previously been cuts of 100 basis points in January and 300 bps in the second half of 2023 from a peak of 11.25% maintained from November 2022 until July 2023. By contrast during the worst part of the pandemic, the rate was a mere 0.5% until an initial hike in July 2021. A released statement concludes, “The Board foresees that, in line with the central scenario of the March MP Report, the MPR will be further reduced.”
Copyright 2024, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Central Bank of Chile
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