Chile’s Central Bank Is Watching Alternative Data, But What Is It?

Chile’s central bank is looking at alternative sources of labor statistics to bolster its case for higher interest rates.

Policy makers cited “complementary sources of information on the labor market -- including administrative records” that show a stronger labor market, when they raised the key rate by a quarter point to 2.75 percent on Thursday. That alternative data includes payments to the pension system and unemployment insurance, the bank later clarified in a reply to questions.