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Costa Says FX Intervention Has Reduced Market Distortions

CHILE

Chile Central Bank President Speaks At An Event:

  • Chile's economy is being affected by shocks (BBG)
  • Shocks to Chile come on top of higher local uncertainty (BBG)
  • Chile's private consumption continues to be resilient
  • Chile's inflation rate is elevated
  • Price indexation is also pressuring Chile CPI higher
  • Inflation has become a significant global problem
  • Chile's peso has had a significant drop
  • Inflation is main concern of Chile families, companies
  • Chile's inflation has been driven by energy prices
  • Chile's labor market is losing strength
  • Economic adjustment is affecting investment more
  • Global economic environment has deteriorated
  • Central bank doesn't target specific FX rate
  • We control CPI through key rate, not FX rate
  • Our FX intervention has reduced mkt distortions (All BBG)

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