Chile Holds Rates Steady

Chile’s central bank held its rate steady at 5.25% Thursday. The decision is the first pause for the bank in 6 months, having raised its rate at every meeting since January, with 475bp in cumulative hikes this cycle, according to Goldman Sachs. The shop still expects to see the rate reach as high as 6.00% by the end of the year. RBS cites favorable inflation data in June and ongoing concerns about weaker domestic demand in the second half of the year as motives for the pause.