May 7, 2017 / 6:07 PM / a year ago

Chile rate does not need to be much lower, cenbank VP says - paper

SANTIAGO, May 7 (Reuters) - Chile’s interest rate is not likely to be lowered below 2.5 percent, Central Bank Vice President Sebastian Claro said in an interview in a local paper published on Sunday.

The bank cut the rate to 2.75 percent in April, its third cut this year as growth expectations remain modest and inflation is under control. Minutes showed the central bank board had weighed holding the rate steady in April.

“Going beyond a rate of 2.5 percent would require a deviation from the base scenario that is not observed today,” Claro told La Tercera newspaper.

Claro maintained the bank’s outlook for economic growth of between 1 and 2 percent for 2017. (Reporting by Fabian Cambero; Writing by Caroline Stauffer; Editing by Mary Milliken)

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