LatinNews Daily - 13 October 2022

In brief: Chile raises benchmark interest rate

*Chile’s central bank (BCCh) as raised the country’s benchmark interest rate to 11.25% up from 10.75% previously in the latest bid to reign in rising inflation which was running at 13.7% in annual terms in September, a slight decline on the 14.1% registered in August. In a statement the BCCh said that it estimates that the rate has reached its “maximum level” in the current cycle of raising rates which began in July 2021, adding that the latest decision to raise interest rates by 50 basis points was unanimous.

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