Chile Interest Rate

The benchmark interest rate in Chile was last recorded at 4 percent. Interest Rate in Chile is reported by the Banco Central de Chile. Interest Rate in Chile averaged 4.94 Percent from 1995 until 2014, reaching an all time high of 14 Percent in September of 1998 and a record low of 0.50 Percent in July of 2009. In Chile, interest rate decisions are taken by The Central Bank of Chile (Banko 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. 2014-04-18

Actual Previous Highest Lowest Forecast Dates Unit Frequency
4.00 4.25 14.00 0.50 3.50 | 2014/06 1995 - 2014 Percent Monthly

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Chile Interest Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-16 09:00 PM Chile
Interest Rate Decision
4.5% 4.5% 4.5% 4.5%
2014-02-18 09:00 PM Chile
Interest Rate Decision
4.25% 4.5% 4.25% 4.5%
2014-03-13 09:00 PM Chile
Interest Rate Decision
4.0% 4.25% 4.0% 4%
2014-04-17 10:30 PM Chile
Interest Rate Decision
4.0% 4.0% 4% 4%
2014-05-15 11:00 PM Chile
Interest Rate Decision
4.0% 3.75%
2014-06-12 11:00 PM Chile
Interest Rate Decision
3.5%
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Money Last Previous Highest Lowest Forecast Unit
Foreign Exchange Reserves 40969.20 2014-03-31 39975.70 42302.20 1998.90 40974.28 2014-06-30 USD Million [+]
Interbank Rate 4.11 2014-03-15 4.40 8.26 0.21 4.00 2014-06-30 Percent [+]
Loans to Private Sector 72321.00 2014-02-28 71779.00 72321.00 15521.00 73688.87 2014-06-30 CLP Billion [+]
Money Supply M1 22120.78 2014-03-15 22062.23 22237.76 81.57 23087.05 2014-06-30 CLP Billion [+]
Money Supply M2 83739.41 2014-03-15 83626.34 83967.76 753.65 85834.86 2014-06-30 CLP Billion [+]
Money Supply M3 141671.92 2014-03-15 141306.63 141671.92 1231.77 145394.42 2014-06-30 CLP Billion [+]
Interest Rate 4.00 2014-04-17 4.25 14.00 0.50 3.50 2014-06-30 Percent [+]
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Chile Leaves Monetary Policy Unchanged

At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.

Statement by the Central Bank of Chile:

Internationally, incoming information confirms the outlook of recovery of the developed economies. Projections of moderate growth in emerging markets remain, which is relevant for the prices of copper and other metals. Agricultural and fuel prices picked up since the last meeting. Inflation in the developed world has remained subdued, so a slow normalization of their monetary policies is foreseen. International financial conditions showed some improvement in the last month and the dollar depreciated globally.

Local economic indicators confirm the low dynamism of output and demand, in line with the baseline scenario of March’s Monetary Policy Report. Annual CPI inflation has risen to 3.5%, influenced by higher prices of foodstuffs and fuels, together with the depreciation of the peso. Inflation expectations remain around 3% in the relevant monetary policy horizon.

The Board will consider the possibility of making additional cuts to the policy rate in line with the evolution of domestic and external macroeconomic conditions and its implications on the inflationary outlook. At the same time, the Board reiterates its commitment to conduct monetary policy with flexibility, so that projected inflation stands at 3% over the policy horizon.

Central Bank of Chile | Joana Taborda | joana.taborda@tradingeconomics.com
4/17/2014 10:42:21 PM

RECENT RELEASES

Bank of Chile Lowers Interest Rate to 4%
Bank of Chile cut its benchmark interest rate by 25 bps to 4 percent on March 13th. The key rate stands now at its lowest level in three years. Published on 2014-03-14

Bank of Chile Cuts Rate by 25 bps
At its February 18th, 2014 meeting, the Central Bank of Chile decided to lower the benchmark interest rate to 4.25 percent from 4.5 percent, as the economy continues to lose strength. Published on 2014-02-18


Interest Rate | Notes
The interest rate shown on this page refers to the central bank benchmark interest rate. Usually, the central bank benchmark interest rate is the overnight rate at which central banks make loans to the commercial banks under their jurisdiction. Moving the benchmark interest rate, the central bank is able to make an impact on interest rates of commercial banks, inflation level of the country and national currency exchange rate. Reduction of interest rates should bring increase in business activity, a rise in inflation rate and weakening of national currency. In case of increase in interest rates the level of business activity is likely to drop, inflation declines and national currency strengthens.


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