Chile's BCCh’s October statement was not as certain as September

This realization is also not new. In fact, BCCh's post-meeting (October) statement was considerably dovish and the key paragraph now has an element of uncertainty compared with the September statement, in which the bank was more certain of implementing a rate hike in near future. 

"Thanks to the change in language (despite the October rate hike) and given our expectations about the economy, we are leaving our forecast of no further rate hike this year unchanged", notes Societe Generale.

Future hikes will likely depend on the Fed's policies and developments on inflation front. BCCh is expected to implement moderate tightening in 2016, balancing domestic and external concerns.