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Business

Chile central bank considered cutting key interest rate - minutes

SANTIAGO: Chilean central bank policymakers considered cutting the benchmark interest rate at their most recent meeting,

Aug 02 2019

SANTIAGO: Chilean central bank policymakers considered cutting the benchmark interest rate at their most recent meeting, but ultimately opted to maintain it, according to meeting minutes released on Friday.

The majority of policymakers were in favor of leaving the rate at 2.5%. The bank cited a "relatively limited benefit" in reducing the rate, given last month's cut by a quarter point.

Chile's economy has shown a below-expected performance, in part due to weaker mining activity and the impact of the trade dispute between China and the United States.

Copyright Reuters, 2019