Chile holds key rate at 4.5% and doubles down on cautious strategy

Chile central bankers are standing their ground as they face a double-whammy of global and domestic instability. — Bloomberg

SANTIAGO: Chile’s central bank has kept its key interest rate unchanged for the fifth straight meeting, as fresh swings in global oil costs and recent surprises in economic data support cautious monetary policy.

Policymakers, led by Rosanna Costa, voted unanimously to hold borrowing costs at 4.5%, as expected by all 17 analysts surveyed by Bloomberg.