Chile cenbank says more rate hikes needed to bring inflation to target
SANTIAGO Oct 28 (Reuters) - Bringing inflation in Chile to the midpoint of the central bank's 2 percent to 4 percent target range will require reducing monetary stimulus, in other words hiking the key interest rate, bank president Rodrigo Vergara said on Wednesday.
One or two more rate hikes are likely over the next 10 months, Vergara said.
The central bank raised the benchmark interest rate 25 basis points to 3.25 percent on Oct. 15 and said further hikes were likely as it tries to rein in stubbornly high inflation. (Reporting by Felipe Iturrieta; Writing by Anthony Esposito; Editing by Chizu Nomiyama)
© Thomson Reuters 2016 All rights reserved.