Chile central bank weighed rate hold and hike in Oct - minutes
SANTIAGO Oct 30 (Reuters) - Chile's central bank considered both a hold and hike of the benchmark interest rate at its policy meeting on October 15, but inflation concerns led it to unanimously agree on a 25 basis point raise, minutes of the meeting showed on Friday.
Board members also considered that decision to be in line with its bias, which has flagged a probable reduction of monetary stimulus by 50 or 75 basis points over the next few months.
The rate rise to 3.25 percent was the first time the bank has moved the rate in a year, as it has weighed the need to stimulate a sluggish economy with fears of fanning above-target inflation.
(Reporting by Rosalba O'Brien)
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