Chile's central bank unexpectedly cut the benchmark interest rate by 50 bas...
FILE PHOTO: The emblem of the Chile's Central Bank is seen at its headquarters in Santiago, Chile March 29, 2018. REUTERS/Ivan Alvarado
SANTIAGO - Chile’s central bank unexpectedly cut the benchmark interest rate by 50 basis points to 2.5% on Friday as it braced for a sharper economic slowdown because of the U.S.-China trade dispute. The bank, citing impacts from global trade tensions, slashed its view for Chile’s 2019 economic growth to 2.75-3.5%, from 3-4% just two months ago, it said in a statement.A central bank poll of traders had forecast a rate hold in the short-term. The bank said its decision to cut the interest rate was taken unanimously by members of its board.
“The board considers that ... the economic recovery has not been sufficient to close the productivity gap and drive inflation. Therefore, it saw it necessary to re-calibrate its monetary impulse,” the bank said.Our Standards:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The NYPD Admitted The Raid On Stonewall Was 'Wrong' 50 Years After The Fact“The actions taken by the NYPD were wrong, plain and simple,” NYPD Commissioner James O’Neill said.
Read more »
Start Planning A Trip — Forever 21's Vacation Shop Is 50% Off!Tanks, tees, shorts, and bathing suits all for 50% off!
Read more »
Pride #50: Queer Latinx showrunner Tanya SarachoTanya Saracho, the showrunner for 'Vida' on the Starz network, is dedicated to telling stories from an LGBTQ and Latinx perspective. Pride50
Read more »