SANTIAGO, Oct 1 (Reuters) - One of four board members at Chile’s central bank voted to raise the benchmark interest rate 25 basis points at its last monetary policy meeting on September 15, when the bank held the rate at 3.0 percent, minutes from the meeting showed Thursday.
This is the first non-unanimous interest rate decision the board has made since June 2014 and is a further sign that the bank is beginning to move towards a rate hike in the short-term to counter persistently high inflation.
Most analysts expected the bank to keep the rate on hold at 3.0 percent in a September poll, but think the bank will raise the rate 25 basis points by the end of the year.
The rate has been on hold at 3.0 percent since October 2014.
Reporting by Gram Slattery; Editing by Chizu Nomiyama