Chile to Consider Further Cuts in Maximum Rates on Some Loans

Chile’s government may consider a further push to reduce interest rates for consumers and small businesses, if a bill currently under debate in Congress doesn’t undermine people’s access to credit, Economy Minister Pablo Longueira said.

The government will wait six months for a reduction in the maximum interest rate on small loans to take effect and then assess the impact on bank lending to see if it’s feasible to make a further reduction, Longueira said in an interview in Lima today.