The Chilean central bank decided to leave the benchmark interest rate unchanged at 2.5% yesterday, as annual inflation in the country remains near the 3% target, at 2.6%.

"Preliminary data about demand and activity in the second quarter are consistent with expectations and show a negative impact from mining and construction," said the central bank.

Regarding external risks, the monetary authority added that raw materials had a mixed behavior recently and highlighted the sharp decline in oil prices.

"Future modifications in the interest rate will depend on the effects of internal and external macroeconomic conditions on inflation expectations," said the central bank.

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Jun 27 at 3:00 UTC

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