LatinNews Daily - 07 September 2022

In brief: Chile’s central bank raises interest rates

* Chile’s central bank (BCCh) has raised the country’s benchmark interest rate 100 base points from 9.75% to 10.75%, in a bid to reign in rising inflation. This represents the eighth steep rate hike since October 2021, when the interest rate stood at 1.5%. In a statement, BCCh stated the decision was due to the continued volatility of international financial markets. The bank noted that inflation continued to rise, with annual inflation standing at 13.1% in July, up from 12.5% in June.

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