
Chile CPI Inflation 0.4% m-o-m in Oct-23
- Chile's CPI inflation for October 2023 recorded a modest growth of 0.4% on a month-on-month basis, indicating a slower rate of price increase.
- The current inflation rate is in line with the one-year average, which suggests little progress towards a sustainable return to the inflation target.

Chile Economic Activity Growth 0.0% y-o-y (consensus -0.8%) in Sep-23
- Chile's Economic Activity stagnated at 0.0% y-o-y in September 2023, but that is a significant improvement from the previous -0.9% and consensus of -0.8% y-o-y.
- Although the growth rate is higher than the one-year average, it is substantially below the long-run average, indicating a relatively weak economic performance.

Chile Unemployment Rate 8.91% (consensus 9.1%) in Sep-23
- Chile's unemployment rate in September 2023 decreased to 8.91%, the lowest level since July 2023, contrary to expectations for another rise to 9.1%.
- Despite the improvement, the unemployment rate remains 0.46 points above the one-year average and 0.41 points above the long-run average, indicating some slackening of the labor market persists.

Banco Central Chile: Oct-23
- The Central Bank of Chile reduced the monetary policy interest rate by 50 basis points to 9%, influenced by tightening global financial conditions, U.S. monetary policy, and geopolitical uncertainties.
- Domestic factors, including a weakening labor market, modest consumption and investment, and easing inflation, also played a role in this decision, aligning with the bank's inflation target of 3%.
- Future interest rate policies will hinge on global financial volatility, domestic economic performance, and inflation dynamics, with the bank vigilantly steering towards its inflation target amidst global and local challenges.
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