Chile, Peru Maintain Rates

The central banks of Chile and Peru have announced their decisions to keep monetary policy interest rates unchanged at 8.25% and 6.50%, respectively. Chile’s central bank indicates that its decision is based on “drastic changes observed in the global economy and their impact on projected inflation” which stands at 9.9%. Peru says that its decision was based on “the elevated uncertainty on the global economy’s evolution and its impact on global economic activity, the prices of our imports and exports and the flow of international financing.” However, it expressed confidence about inflation levels falling in tandem with the prices of raw materials, oil and imported foods. Peru’s inflation stands at 6.54%.