Chile: Central Bank stays put
October 18, 2012
At its 18 October policy meeting, the Central Bank left the policy rate unchanged at 5.00%, in a move widely expected by the market. Policy makers last changed the policy rate in January with a 0.25 percentage-point cut. In its statement, the Bank acknowledged that, although tensions in the Eurozone have eased after the announcements of the European Central Bank, uncertainty remains, posing a potential risk in the months to come. The Bank underlined that economic activity is performing in line with its trend driven by strong domestic consumption. In addition, monetary authorities stated that inflation is below 3.0%, and inflation expectations remain around the Bank's target. The next policy meeting is scheduled for 13 November.