June 24, 2019 / 12:56 PM / 4 months ago

Chile central bank says "no doubt" of need to slash interest rate - minutes

SANTIAGO, June 24 (Reuters) - Chilean central bank policymakers agreed in their early June meeting there was “no doubt” of the need to slash the country’s interest rate by a half percentage point to 2.50 percent, according to minutes released on Monday.

Policymakers debated only the timing of the cut, questioning whether it was better to drop the rate by a quarter point in two consecutive months, or to do it all at once.

The bank cited global trade tensions as part of the rationale for its surprise decision earlier this month. A bank analysis had cut its view for Chile’s 2019 economic growth to 2.75-3.5%, from 3-4% just two months ago. (Reporting by Dave Sherwood Editing by Chizu Nomiyama)

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