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BLOOMBERG/Led by central bank President Jose De Gregorio (pictured), Chile surprised most economists...by raising its overnight rate by 50 basis points...to 4%... in a strong effort to curb inflation.
“This is a central bank that is showing its inflation- fighting credentials through forceful action,” said RBS strategist Siobhan Morden.
With this move, Chile's c.bank now leads the world in aggressive interest rate increases.
