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The Central Bank of Chile has maintained its interest rate at 4.5% since last December, amid higher than usual global and local macroeconomic uncertainty.
The Central Bank of Chile maintained its key interest rate at 4.5%, a unanimous decision and in line with market expectations.
The indicator has remained at this level since last December and, according to the operators consulted, future changes to rates will depend solely on the evolution of prices and macroeconomic data in the coming months.
The institute specified that the current global and local macroeconomic scenario remains subject to a greater degree of uncertainty than usual. "The Council reaffirms that it will take the decisions necessary to achieve the objective of inflation projected at 3% over a two-year horizon," the body underlined in an official statement.
Chile's annualized inflation reached 4.1% in August, exceeding the body's tolerance range of 2% to 4%. The price increase was exacerbated by severe winter storms that damaged both the agricultural sector and vital copper mining.

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