LatinNews Daily - 08 June 2022

In brief: Chile hikes interest rates again

* Chile’s central bank (BCCh) has raised the country’s benchmark interest rate from 8.25% to 9.0% in response to mounting inflation. The rate hike followed five other steep increases since October 2021, when the interest rate stood at 1.50%. In a statement, the BCCh highlighted that inflation was continuing to rise, with annual inflation standing at 10.5% in April. Chile closed 2021 with annual inflation of 7.2% in December, its highest level in 14 years and significantly above the BCCh’s target range of 2-4% for 2021. In a statement the bank said that the April inflation was higher than expected, with food and fuel prices particularly high.

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