Chile’s central bank keeps monetary policy rate unchanged at 3%

By Angela McDaniels

Tacoma, Wash., April 17 – The board of the Central Bank of Chile decided to keep the monetary policy interest rate at 3% at its monthly monetary policy meeting, according to a press release from the bank.

In March, headline inflation was lower than forecast, which was not the case for core inflation. Overall, the annual change of the Consumer Price Index is still high, according to the board. The board’s medium-term inflation expectations remain 3%.

The unemployment rate dropped slightly, but job creation was low. Nominal wages remained “dynamic” in March, according to the press release.

The board said output is evolving in line with expectations, although investment has evolved below what it had expected.

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