SANTIAGO, Jan 30 (Reuters) - Chile’s central bank only weighed a hold of the benchmark interest rate at 3.0 percent as an option at its monetary policy meeting on Jan. 15, according to minutes released on Friday.
The bank cut the rate 200 basis points over the last year to stimulate a flagging economy but has indicated it will now pause to give above-target inflation time to ease.
“All the board members agreed that the main macroeconomic developments originated abroad, particularly the continuing decline in the price of commodities, mainly oil and copper,” the minutes said.
Falling oil prices have helped to cool inflation in the top copper exporter.
Output and demand indicators “reflected some stabilization in recent months”, the minutes said. (Reporting by Anthony Esposito; Editing by Lisa Von Ahn)