Chile Cuts Rate for Seventh Time in Last Year Amid Slowdown

Chile cut its benchmark interest rate by a quarter point for the seventh time in 12 months as investment tumbles and the economy expands at the slowest pace in more than four years.

Policy makers, led by bank President Rodrigo Vergara, reduced the key rate to 3.25 percent today, as forecast by all 22 economists surveyed by Bloomberg. The central bank will consider further monetary stimulus, according to a statement accompanying the decision.