Profile image
By CentralBankNews.info (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Chile cuts rate 25 bps on weakening economy, demand

Thursday, March 16, 2017 14:49
% of readers think this story is Fact. Add your two cents.

Headline: Bitcoin & Blockchain Searches Exceed Trump! Blockchain Stocks Are Next!

    Chile’s central bank cut its policy rate by another 25 basis points to 3.0 percent, as expected, and said there is a need for additional monetary stimulus due to the implication for inflation from the recent economic trends.
    It is the second rate cut by the Central Bank of Chile this year, following a cut in January, bringing the total easing to 50 basis points. January’s rate cut was the first by the central bank since October 2014.
    Today’s rate cut comes after the central bank in February said that the most likely scenario was that it would be necessary to boost the monetary impulse in the short term.
     Chile’s inflation rate eased to 2.7 percent in February from 2.8 percent in January with inflation expectations in the coming months in the lower part of the central bank’s target range of 1.0 to 5.0 percent around a central midpoint of 3.0 percent.
     Longer-term, inflation expectations remain around the target, the bank added.
    Economic activity and demand remains weak, the central bank said, adding employment was deteriorating although the employment rate remains stable.
    Chile’s economy grew by an annual rate of 1.6 percent in the third and second quarters of 2016 while the unemployment rate rose to 6.2 percent in January 2017 from 6.1 percent in December.
    Chile’s peso has been depreciating since mid-February and was trading at 661.75 to the U.S. dollar today, up 1.1 percent since the start of this year.

    www.CentralBankNews.info

   



Source: http://www.centralbanknews.info/2017/03/chile-cuts-rate-25-bps-on-weakening.html

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.