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Chile Peso Extends World-Beating Rally After Bold Rate Hike

  • Peso outperforms most emerging-market peers, swap rates jump
  • Central bank raised rate by 150bps, above 125bps median est.
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Chile’s peso jumped on Thursday after the central bank unexpectedly delivered its biggest interest rate hike since 2001 and signaled borrowing costs will continue to rise higher than many investors had forecast.