Chile Cuts 50bp

Chile’s central bank cut its monetary policy rate by 50bp to 0.75%. The easing is in line with Goldman Sachs’ forecast, although the shop also said there was a possibility of a 25bp cut. RBC Capital Markets expected a 25bp reduction, as did Bank of America-Merrill Lynch and Barclays. The central bank expects to continue cutting rates to bring inflation down to 3.0%. It stands at 4.4%.