*Chile’s central bank (BCCh) has lowered its benchmark interest rate by 25 basis points to 5.0%, adding to cuts made in September and October. In a statement explaining the decision, the BCCh noted growing international uncertainty and highlighted “the impact of a possible reconfiguration of international trade, as well as doubts regarding the policies that the new US government will adopt”. The bank added that in the third quarter Chile’s domestic demand had shown “weak dynamism”, while investment was increasingly concentrated in the mining sector. Annual inflation in November stood at 4.2%, above the BCCh target of 3.0%, and the bank predicted that inflation would rise to 5.0% during the first half of 2025 due to “challenging” short-term inflationary pressures.
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