Chile central bank keeps benchmark interest rate unchanged at 0.5pc

SANTIAGO: Chile's central bank held its benchmark interest rate steady at 0.5% on Monday, in line with expectations, as policymakers continue a push to stimulate the economy of the world's top copper producing country.

Traders and analysts predicted Chile's rate, its lowest in a decade, would remain unchanged for the next year at least as the country struggles to recover from the coronavirus-induced economic malaise.

Chile has kept its interest rate steady following successive cuts through late March, when it warned of a "severe" economic contraction as a result of the pandemic.