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Chile's central bank holds benchmark rate, warns of risk from Middle East war

BY Reuters | ECONOMIC | 06:08 PM EDT

SANTIAGO, April 28 (Reuters) - Chile's central bank on Tuesday held its benchmark interest rate at 4.5% in a unanimous decision, in line with expectations and marking its third consecutive decision to maintain the rate.

In a statement, Chile's central bank said the prolongation of the war in the Middle East was worsening forecasts for global inflation and economic activity, and increasing risks that oil prices will remain high. (Reporting by Natalia Ramos and Sarah Morland; Editing by Natalia Siniawski)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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