September 24, 2018 / 12:02 PM / a month ago

Chile central bank considered increasing interest rate -minutes

SANTIAGO, Sept 24 (Reuters) - Chilean central bank policymakers considered increasing the interest rate at their September 3-4 meeting before deciding unanimously to leave it unchanged, according to minutes released on Monday.

The monetary policy committee again this month discussed initiating the process of normalization of the Monetary Policy Rate (MPR), noting that the gradual increase of inflation to 3 percent made it less necessary to maintain the current monetary stimulus.

Ultimately policymakers kept the key rate stable at 2.5 percent amid a sustained recovery in the economy under the center-right government led by President Sebastian Pinera.

Analysts predicted a raise in the benchmark interest rate by 0.25 percentage point to 2.75 percent by December, according to a poll conducted by the central bank and published on September 11. (Reporting by Cassandra Garrison Editing by Chizu Nomiyama)

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