Chile Hikes Benchmark to 6%

Chile Hikes Benchmark to 6%

Chile

Chile's central bank raised the benchmark interest rate by 25bp to 6% Thursday, surprising most analysts who thought the rate would be kept on hold. Credit Suisse was among the few shops predicting a hike. "By tightening today, against market expectations, the bank would send a strong signal of discomfort about current inflation levels (headline and core) and would contribute to the reduction of second-round effects. In our opinion, inflation risks in Chile have been underestimated, while risks

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