LatinNews Daily - 29 April 2026

*Chile’s central bank (BCCh) has once again voted to hold its benchmark interest rate at 4.5%, marking the third consecutive occasion it has elected to maintain the rate. Chile’s interest rate has been unchanged since December, when the bank cut it by 25 basis points. In a statement, the BCCh cited ongoing uncertainty surrounding the war in the Middle East as a reason for its decision. It noted a yearly and monthly contraction of 0.3% in the non-mining economic activity index (Imacec) in February, which it said was below forecasts. It also stated that annual inflation stood at 2.8% in March, above forecasts. “The macroeconomic outlook remains subject to a higher-than-usual degree of uncertainty,” concluded the BCCh, saying that it will be necessary to “constantly assess alternative scenarios in which the response of the global and domestic economy could generate inflationary pressures different from those expected and require changes in monetary policy”, meaning that “the future path of the policy rate will be evaluated on a meeting-by-meeting basis depending on how events unfold”.

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