Weekly Report - 20 March 2014 (WR-14-11)

CHILE | BCCH still cutting rates. On 13 March Chile’s central bank (BCCH) announced that following its latest monetary policy meeting, it has decided to cut its benchmark interest rate (TPM) by 25 basis points to 4%. This is the fourth time that the bank has cut interest rates since January 2012 in a bid to stimulate the slowing domestic economy. In a statement, the BCCH said that the decision answered to the fact that “the world’s main economies continue to show signs of a weak [economic] recovery, while growth forecasts for emerging economies, especially those in Latin America, have receded”; and that the domestic economy “has continued to lose dynamism... with domestic demand and economic activity growing by less than previously forecast”.

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