Chile’s central bank held its interest rate steady for the fourth straight meeting and signaled it still isn’t ready to reduce borrowing costs as inflation eases slowly. Board members led by Rosanna Costa voted unanimously on Friday to keep borrowing costs at 11.25%, the highest level in more than two decades. The bank repeated previous wording that rates would remain on hold for the time being, and said the decision was consistent with its outlook. “The Board considers it appropriate to maintain the MPR at 11.25% until the state of the macro-economy indicates that the process of inflation convergence to the 3% ... (full story)