Chile Holds Rate

Chile’s Central Bank has held the overnight benchmark lending rate at 5%, in line with market expectations. The Bank said that inflation had moderated in the past month and long-term forecasts remained at 3%. Prices fell by 0.2% in February and annual inflation dropped to 2.7% from 2.8% in January. The government recently unveiled plans to stimulate economic growth which fell to around 4.2% last year.