Central Bank of Chile
October 19, 2017
Chilean monetary officials once again left the key interest rate at 2.5%. The last reduction in May capped four 25-basis point moves during the first five months of 2017 to the current level. The rate had been at 3.5% throughout the entirety of 2016. Officials run an inflation-stabilization monetary policy, targeting the CPI at 3.0% over the medium term. September’s pace was only half that target, but officials expect to drift higher. Long-term inflation expectations remain consistent with the central bank target, and economic growth seems to be picking up after dragging early in this year.
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Tags: Central Bank of Chile
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