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Chile Cuts Interest Rate for Fourth Time in Six Months

Chile’s central bank cut borrowing costs for a fourth time in six months following the slowest economic growth in four years, while toning down the outlook for further reductions.

Policy makers, led by bank President Rodrigo Vergara, reduced the benchmark interest rate by a quarter-point to 4 percent yesterday, as forecast by 19 of 24 economists surveyed by Bloomberg. Four analysts expected the bank to keep rates unchanged and one forecast a half-point cut to 3.75 percent.