Monetary Policy Group recommends raising interest rate from 6.25% to 6.5%

The recommendation is backed by arguments citing inflation forecasts as well as the manifestation of inflationary risks.

11 de Marzo de 2008 | 13:49 | El Mercurio Online

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SANTIAGO. -  At a meeting this morning, the Monetary Policy Group (GPM) recommended that the Central Bank raise the interest rate by 25 base points, to a rate of 6.5%.

The GPM´s argument cited inflationary projections as well as the manifestation of inflationary risks as the basis for the recommendation.  The Group pointed out that if the risk factor continues to increase, it might be necessary to raise the Central Bank’s benchmark rate even more.

The decision was made by economists Luis Felipe Lagos, Franco Parisi, Tomás Flores, Rodrigo Cerda and Ángel Cabrera.



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