According to the government’s statistics agency, Chile’s consumer prices fell 0.1% in November due to prices dropping in retail, housing and basic services. The National Statistics Institute (INE) reported that inflation registered an increase of 2.7% in November, compared to the same period in 2019. This figure is within the Central Bank's 2-4% target range.
Chile’s Central Bank held its benchmark interest rate steady at 0.5%. Traders and analysts predicted Chile’s rate, its lowest in a decade, would remain unchanged for the next year at least as the country struggles to recover from the coronavirus-induced economic malaise.
Fitch Ratings has assigned an 'A-' rating to Corporacion Nacional del Cobre de Chile's (Codelco) $500 million proposed senior unsecured notes due 2051. Proceeds from the proposed notes will be used to refinance upcoming bond maturities. CODELCO initiated a tender offer for up to $1.1 billion to purchase the outstanding notes due in 2021, 2022, 2023, 2025 and 2027. The overall transaction will allow Codelco to improve its debt maturity profile and strengthen its liquidity.
Fitch Ratings has affirmed Empresa Nacional del Petroleo's (ENAP) Long-Term Foreign Currency Issuer Default Rating (IDR) at 'A-'. Fitch has also affirmed ENAP's National Long-Term Rating at 'AAA(cl)'. The Rating Outlook is Stable. The company is responsible for assuring a significant portion of Chile's energy supply, and owns 100% of the country's refining capacity.
TransferMate, one of the world's leading cross-border B2B technology payments providers, has announced its first two payments licences in South America with approvals in Brazil and Chile. In Chile, TransferMate is a registered Payment Intermediary with Unidad de Análisis Financiero (UAF). TransferMate customers will be able to seamlessly pay into and receive money out of Brazil and Chile same day/next day with full tracking and zero wire fees.