Chile Lowers Rates, Peru Holds

Chile’s central bank has decided to lower the country’s benchmark interest rate by 25bp to 5.00%, despite expectations it would hold. In its statement accompanying the decision, it cites continued slow growth in developed markets and slowing in key emerging markets. Meanwhile, Peru held its rate at 4.25%, as expected, with its central bank mentioning slow global growth and an increase in inflation as the main factors influencing its decision.