July 29, 2016 / 12:46 PM / a year ago

Chile's central bank only considered rate hold in July - minutes

SANTIAGO, July 29 (Reuters) - Chile’s central bank only considered keeping the benchmark interest rate on hold at 3.5 percent in its July monetary policy meeting, minutes from that meeting showed on Friday.

The bank has held the rate since December 2015, as it balances the need to stimulate a weak economy with the need to dampen stubbornly high inflation. However, there were recent signs that inflation might return to target sooner than expected, some board members said, according to the minutes. (Reporting by Rosalba O‘Brien; Editing by Jeffrey Benkoe)

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