Chile Joins Colombia and Peru to Keep Interest Rates on Hold

Chile joined Colombia and Peru in leaving its benchmark interest rate unchanged yesterday as the European debt crisis shows little sign of damping growth or easing price pressures in the world’s top copper producer.

Chile’s five-member policy board, led by Jose De Gregorio in what may be his last meeting as bank president, held the overnight rate at 5.25 percent, as forecast by all 16 economists surveyed by Bloomberg. De Gregorio’s term ends Dec. 9 and President Sebastian Pinera has yet to nominate a replacement.