Economics
Chile Central Bank Head Says Recovery to Take Hold by Year’s End
- Bank board had said rates to be 0.5% until recovery takes hold
- Bank board sees annual CPI at target rate of 3% in December
This article is for subscribers only.
Chile’s central bank chief said it will take the rest of the year for the economic recovery to take hold, a key condition that policy makers had previously set for a future interest rate increases.
In the statement accompanying this week’s policy decision, the bank board wrote the key rate “will be held at its 0.5% minimum until the recovery of the economy takes hold and spreads to the more lagging components of expenditure, which will take several quarters.”