Chile Raises Benchmark Rate To 2-Yr High

Chile’s Central Bank has raised its benchmark overnight lending rate 25 basis points to 4.75%, the first hike in three months. Higher-than-expected inflation figures for January prompted the bank to move to check consumer spending. Inflation was up 0.1% in January, after falling for two consecutive months in November through December. Annual inflation rose to 4.1%, above the maximum 4% targeted.