The Central Bank of Chile, in its March session, opted unanimously to maintain the policy interest rate at 5%. The board highlighted that since their previous meeting, global economic uncertainty has increased, driven by heightened geopolitical tensions and the introduction of new U.S. tariffs coupled with retaliatory measures from affected nations. This situation has notably affected the growth outlook in the U.S. and spurred inflation expectations, prompting the Federal Reserve to halt its cycle of rate cuts. Reactions across global financial markets have been diverse: U.S. equities experienced declines, while stock indices in Europe and China recorded gains. Meanwhile, a depreciating U.S. dollar has contributed to a rise in commodity prices; notably, copper has seen an 8% increase since the last meeting, though oil prices have decreased by approximately 9%, reflecting wider global growth apprehensions. In Chile, financial markets have aligned with broader trends observed in emerging markets, showing a fall in interest rates, a 7% appreciation of the peso, and a 6% increase in the IPSA index.