Chile's Central Bank Council unanimously voted Tuesday in favor of keeping the monetary policy interest rate (TPM) at 5% for the second month in a row amid high volatility in global financial markets after the recent change of government in the United States. Tuesday's decision halted a downward trend that had been going on for months.
Argentina’s central bank held its benchmark interest rate at 27.25% this week, the monetary authority said in a statement, noting that high-frequency indicators suggested core inflation would remain high in April, but below March’s levels.
China's central bank on Friday unexpectedly cut benchmark interest rates for the first time in more than two years, as authorities seek to prop up flagging growth in the world's second-largest economy.
The Chilean central bank raised its forecast for economic growth this year to between 4.75% and 5.25% (from 4% to 5%), adding that it expects GDP to expand 4% to 5% in 2013.
Chile’s central bank kept its benchmark interest rate unchanged this week for the third straight month and indicated that a tight labor market may prevent it from following Brazil and cutting rates next month.