The Chilean peso fell against the US dollar and the euro today after Chile’s central bank conducted a policy meeting and decided to leave its key interest rate unchanged.
The Central Bank of Chile kept its main interest rate at 5 percent. The central bank spoke about high volatility on the financial markets created by uncertainty about US monetary policy and recovery in Europe. At the same time, it mentioned that slowdown of China’s growth seems to cease.
Regarding the domestic developments, the bank said:
Domestically, recent output and demand figures continue along the lines of previous months: moderate growth in output and strong private consumption.
The central bank also added:
The consolidation of the trends outlined in the last Monetary Policy Report could call for adjustments to the monetary policy interest rate in the coming months.
USD/CLP went up from 502.15 to 503.85 as of 14:00 GMT today. EUR/CLP advanced from 667.9550 to 668.3850.
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