Chile: Central Bank maintains wait-and-see approach
November 13, 2012
At its 13 November policy meeting, the Central Bank left the policy rate unchanged at 5.00%, in line with expectations, as stronger-than-expected domestic demand offset the slowdown in the external sector. Policy makers last changed the policy rate in January, when they cut rates by 0.25 percentage points. In its statement, the Bank noted that "uncertainty persists about the fiscal and financial situation in the Eurozone, as does the risk of a sharp fiscal adjustment in the United States". In addition, the Bank underlined that commodity prices have declined. Monetary authorities stated that inflation is around 3.0%, and inflation expectations remain within the Bank's target. The next policy meeting is scheduled for 13 December.