Chile’s central bank unanimously kept its benchmark interest rate unchanged at 4.5% in September, citing heightened uncertainty from the Middle East conflict, rising oil prices and persistent global inflation risks. Oil has approached $100 a barrel, while copper prices climbed above $6.50 a pound. Domestically, economic activity remained weaker than expected in the second quarter and early third quarter, accompanied by slowing domestic demand, job losses and a higher unemployment rate. Headline inflation rose to 4.1% in August, driven by volatile components, while core inflation held at 3.3%. Inflation expectations remain anchored at 3% over two years. The central bank said monetary policy would continue to be assessed meeting by meeting, with risks from the conflict and the possibility of a more prolonged domestic slowdown requiring close monitoring.