Smaller Chilean Central Bank Rate Cut
June 19, 2024
The Central Bank of Chile’s policy interest rate was reduced by a further 25 basis points. This cut was smaller in size than the three earlier easings in 2024 that had totaled 225 basis points. Those moves followed ones during the second half of last year totaling three percentage points from a peak of 11.25% maintained from October 2022 until July 2023. At 5.75%, the new interest rate level is its lowest since March 2022. A released statement explaining today’s move suggests that most of the likely rate reduction in 2024 has now been completed. Chilean consumer price inflation of 4.1% overall and 3.5% core was still above the central bank’s 3% target.
Copyright 2024, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Central Bank of Chile
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