*Chile’s central bank (BCCh) has maintained the country’s benchmark interest rate at 11.25%, where it has stood since October. In a statement, BCCh said it was necessary to maintain the rate until “macroeconomic conditions indicate that the process of inflation convergence to the 3% target has been consolidated”. It noted that the economy was adjusting more slowly and inflation was proving more resistant than expected. Annual inflation stood at 11.9% in February, while the monthly index of economic activity (Imacec), which serves as a proxy for GDP, declined by 0.5%.
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