Central Bank of Chile increases interest rate
Central Bank of
Chile raised its interest rate a quarter percentage point to 3% on Thursday, as widely expected.
The bank gradually tightens monetary policy to stem growing inflationary pressures driven by high fuel prices and rising domestic demand.
Chile's consumer price index rose 2.4% in March. Moreover, crude oil prices to a record $58.28 per barrel.
Chile imports most of the petroleum it consumes.