SANTIAGO, Nov 3 (Reuters) - Chile central bank called the recent above-forecast uptick in inflation “striking” but said it did not think it posed a serious long-term risk, according to the minutes of its October monetary policy meeting published Monday.
The bank considered both holding the benchmark interest rate and cutting it 25 basis points to 3.00 percent, but in the end decided unanimously to cut when it met on Oct. 16, the minutes showed.
Annual inflation in the top copper exporter has been running close to 5 percent in recent months, well above the bank’s 2 to 4 percent tolerance range.
October's monetary policy meeting minutes in English: here
Reporting by Rosalba O'Brien Editing by W Simon