Chile Peso Jumps as Traders Return After Smaller Rate Cut
- Central bank slows pace of rate cuts amid currency plunge
- Policymakers also halt program to replenish nation’s reserves
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Chile’s peso surged as local markets reopened after the central bank’s surprise decision to slow down the pace of interest-rate cuts last week.
The peso jumped 2.8% to 907.1 per US dollar as of 9:45 a.m. New York time on Monday, according to local pricing data compiled by Bloomberg.