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Market News

Chile central bank keeps benchmark interest rate unchanged at 0.5%

SANTIAGO, March 30 (Reuters) - Chile’s central bank kept its benchmark interest rate steady at 0.5% on Tuesday, in line with expectations, as the country continues with efforts to revive the economy while also battling a second spike in the coronavirus pandemic.

A central bank poll of traders last week predicted Chile’s rate, its lowest in a decade, would only nudge upwards to 0.75% in 12 months. The world’s No. 1 copper producer has kept its interest rate steady since successive cuts up until late March, when it warned of a “severe” economic contraction as a result of the virus. (Reporting by Aislinn Laing Editing by Chris Reese)

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