The Chilean peso retreated today after the central bank left interest rates unchanged on its yesterday’s meeting as inflation was not high enough to prompt an interest rate hike.
The Central Bank of Chile left its key interest rate at 5 percent. That bank said in the statement that global “financial conditions are stable” and domestically “recent output and demand indicators exceeded forecasts”. Yet the bank felt no need to raise borrowing costs as annual inflation stayed below 2 percent.
USD/CLP rose from 470.9500 to 471.2500 as of 14:52 GMT today.
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