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LatinNews Daily - 15 July 2021
In brief: Chile’s central bank raises benchmark interest rate
* Chile’s central bank (BCCh) has increased its interest rate by 25 basis points to 0.75%. The decision, unanimously agreed by the BCCh board at the bank’s latest monetary policy meeting, is the first rate hike in over two years, as the domestic economy recovers from the crisis caused by the coronavirus (Covid-19) pandemic. In a statement, the BCCh said that “even in a context of gradual normalisation, monetary policy will continue to accompany the recovery of the economy”. With this decision, Chile follows the path adopted by other countries in the region, notably economic heavyweights, Brazil and Mexico, in raising interest rates in the face of gradually rising inflation. In Chile, headline inflation came in at 3.8% in June.
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- In brief: Chile’s central bank raises benchmark interest rate