Fall in Chile inflation could lead to interest rate reduction
The Chile economy has come under pressure over the last few months, with a fall in the price of copper which has a major impact on the country’s main business arena of mining. This is an area of the world which has attracted the skill and the investment of Australia’s best mining companies not to mention others around the world. However, while the economy as a whole is still growing it is showing signs of a slowdown and inflation is falling.
Surely a reduction in inflation is good news?
Inflation is something of a double edge sword because roaring inflation can ruin economies because of cost overruns but very low inflation can stall economic growth. The rate of inflation for the month of May in Chile came in at 0% which effectively means there was no increase in the cost of living in the country. This brings the annual rate to the end of May 2013 to 0.9% which is well below the Chile central bank target of between 2% and 4%. [click to continue…]
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