Chile Interest Rate  1995-2016 | Data | Chart | Calendar | Forecast | News

The Central Bank of Chile left its benchmark interest rate unchanged at 3.5 percent on September 15th as widely expected, keeping its neutral stance as inflation has slowed. Last month, policymakers dropped its tightening bias, signalling no rate hikes are expected in the near future due to lower inflationary pressures. Yet, the inflation rate eased to a 30-month low of 3.4 percent in August. Interest Rate in Chile averaged 4.80 percent from 1995 until 2016, reaching an all time high of 14 percent in September of 1998 and a record low of 0.50 percent in July of 2009. Interest Rate in Chile is reported by the Banco Central de Chile.

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Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.50 14.00 0.50 1995 - 2016 percent Daily
In Chile, interest rate decisions are taken by The Central Bank of Chile (Banco Central de Chile). The official interest rate is monetary policy interest rate (PDBC Pagarés Descontables del Banco Central) which is overnight interbank interest rate. This page provides - Chile Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Chile Interest Rate - actual data, historical chart and calendar of releases - was last updated on September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-07-14 10:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-08-11 10:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.75%
2016-09-15 09:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-10-14 09:00 PM Interest Rate Decision 3.5% 3.5%
2016-11-11 09:00 PM Interest Rate Decision 3.5%
2016-12-16 09:00 PM Interest Rate Decision 3.25%

Chile Keeps Key Rate on Hold at 3.5%


The Central Bank of Chile left its benchmark interest rate unchanged at 3.5 percent on September 15th as widely expected, keeping its neutral stance as inflation has slowed. Last month, policymakers dropped its tightening bias, signalling no rate hikes are expected in the near future due to lower inflationary pressures. Yet, the inflation rate eased to a 30-month low of 3.4 percent in August.

Statement by the Central Bank of Chile:

Internationally, the movements of the financial markets have been dominated by the prospect of what the Federal Reserve will do at its meeting next week. Anyway, despite some volatility, monetary and financial conditions are still favorable and long-term interest rates remain low. On the activity side, the weakness of recent indicators in the United States and the improvement of Chinese figures stand out. Beyond fluctuations, the prices of copper and oil are similar to those of a month ago. 

On the domestic front, annual CPI inflation dropped to 3.4%, in line with forecasts. Expected inflation two years ahead remains at 3%. Partial third-quarter data point at limited growth in output and demand, consistent with the Monetary Policy Report’s baseline scenario. Confidence indicators are still in pessimistic territory. The labor market continues to reflect a gradual deterioration, with a slightly higher unemployment rate. 

The Board reiterates its commitment to conduct monetary policy with flexibility, so that projected inflation stands at 3% over the policy horizon. Any future changes in the monetary policy rate will depend on the implications of domestic and external macroeconomic conditions on the inflationary outlook.

Central Bank of Chile | Mojdeh Kazemi| mojdeh@tradingeconomics.com
9/16/2016 10:20:37 AM

Chile Money Last Previous Highest Lowest Unit
Interest Rate 3.50 3.50 14.00 0.50 percent [+]
Interbank Rate 4.03 4.02 7.45 0.06 percent [+]
Money Supply M1 27420.66 27739.32 29116.65 81.57 CLP Billion [+]
Money Supply M2 101620.26 102286.81 102832.58 753.65 CLP Billion [+]
Money Supply M3 181769.80 181182.39 181769.80 1231.77 CLP Billion [+]
Foreign Exchange Reserves 39077.00 39415.30 42302.70 1998.90 USD Million [+]
Banks Balance Sheet 111821.00 109700.00 111821.00 19122.00 CLP Million [+]
Loans to Private Sector 86908.00 86810.00 87178.00 15521.00 CLP Billion [+]
Deposit Interest Rate 3.60 3.92 48.68 1.75 percent [+]
Private Debt to GDP 199.27 191.03 199.27 148.14 percent [+]
Central Bank Balance Sheet 25726.00 24177.00 25726.00 10730.92 CLP Million [+]




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