Chile central bank rate hike – says now nearing the top for rates

The Central Bank of Chile (Banco Central de Chile) has raised its overnight rate to 10.75% from 9.75% prior.

  • The 100bp rate hike is above the +75 that was the consensus expected.

In its statement the Bank said the policy rate is now near the maximum that was outlined in the central scenario September quarterly report.

Chilean TPM rate (not updated with today’s decision yet):

chile monetary policy 07 September 2022
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