* Chile’s central bank (BCCh) has announced that it is reducing its benchmark interest rate by 75 basis points to 8.25%. This follows a reduction of 50 basis points in October and 75 basis points in September. The BCCh began to reduce the interest rate in July. Prior to that, the rate had been maintained at 11.25% since October 2022. The decision was adopted unanimously by the BCCh board. In a statement, the bank noted that forecasts continue to show inflation converging to the target of 3% in the second half of 2024.
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