Chile Holds Benchmark Rate

Chile’s Central Bank decided to leave its benchmark interest rate unchanged at 5.25% at its monthly meeting Thursday. This is the third time in as many months the Bank has chosen to hold rates steady. The move was anticipated by the markets following three consecutive months of slowing economic growth. Chile’s expansion in the second quarter fell to 4.5% from 5.3% in the first quarter as energy costs continued to rise, investment growth declined and a slowdown in copper production dampened exports. The country posted inflation of 0% last month, taking annual inflation down to 2.8%.