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Chile reduces interest rate
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Chile reduces interest rate in response to economic outlook

Chile reduces interest rate in response to economic outlook

Posted on June 21, 2024   |  

Chile's central bank lowered its benchmark interest rate by 25 basis points to 5.75%, meeting market expectations, with one board member favoring a 50 basis point cut.

The interest rate is likely to drop to 5% over the next 5 months.

The central bank stated that if their economic predictions, including internal demand, copper prices, and power rates, are accurate, they will implement the planned 2024 rate cuts in H1 2024.

This decision is a response to current economic conditions and forecasts.

The board members' preference for a larger cut shows differing opinions on how quickly monetary policy can be eased.



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