Chile central bank trims interest rate to 4.5%
SANTIAGO, Dec 16 (Reuters) - Chile's central bank on Tuesday trimmed its benchmark interest rate by 25 basis points to 4.5% in a unanimous decision, in line with expectations, as inflation further cooled.
In both October and November, annual inflation came in at 3.4%, within the central bank's target range of 2% to 4%. Inflation is expected to reach the 3% mid-point in the first quarter of next year, the bank said.
"This takes into account the more favorable behavior of some cost factors, in a context where the risks to inflation convergence have diminished," the monetary authority said in its rate decision.
Traders polled by the bank earlier this month predicted the monetary authority will now hold the 4.5% rate through next June.
The central bank said its board would assess future decisions taking into account the evolution of the macroeconomic scenario and its implications for inflation convergence.
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