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

The Central Bank of Chile left its benchmark interest rate on hold at 3.5 percent at its February 2016 meeting as widely expected, following a 25 bps hike in December. Policymakers said will consider further paused adjustments to the interest rate, aiming to bring inflation back to target. Interest Rate in Chile averaged 4.83 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.

Chile Interest Rate
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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 (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. Chile Interest Rate - actual data, historical chart and calendar of releases - was last updated on February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-12-17 09:00 PM Interest Rate Decision 3.5% 3.25% 3.25% 3.25%
2016-01-14 09:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-02-11 09:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-03-17 09:50 PM Interest Rate Decision 3.5% 3.5%
2016-04-12 09:00 PM Interest Rate Decision 3.5%
2016-05-17 09:00 PM Interest Rate Decision 3.5%

Chile Leaves Monetary Policy Unchanged


The Central Bank of Chile left its benchmark interest rate on hold at 3.5 percent at its January 2016 meeting as widely expected, following a 25 bps hike last month, saying the inflation rate in December was lower than anticipated while expectations for the next two years remain at 3 percent. Policymakers said will consider further paused adjustments to the interest rate, aiming to bring inflation back to target.

Statement by the Central Bank of Chile:

Abroad, the policy rate hike by the Federal Reserve Board has caused no significant changes in global financial markets. The main development has been the volatility of financial markets deriving from events in China. In this context, emerging markets’ currencies have depreciated— the Chilean peso included—and their sovereign premiums have risen. Stock prices have fallen, as have commodity prices, especially copper and oil. World activity indicators show no significant changes compared to last month’s scenario.

On the domestic front, December’s monthly CPI inflation was somewhat lower than expected, and in annual terms was above 4% again. Core inflation—the CPIEFE—is still close to 5% y-o-y. Inflation expectations two years out remain at 3%. The evolution of these variables will continue to be monitored with special attention. Available fourth-quarter data continue to show limited growth in domestic output and demand. Confidence indicators are still in pessimistic territory. The unemployment rate remained low and annual wage growth was slightly less than in previous months.

The future path of the monetary policy rate considers measured adjustments aimed to ensure the convergence of inflation to the target, at a pace that will depend on incoming information and its implications on inflation. 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
1/14/2016 9:16:26 PM

Chile Money Last Previous Highest Lowest Unit
Interest Rate 3.50 3.50 14.00 0.50 percent [+]
Interbank Rate 4.29 4.29 7.45 0.06 percent [+]
Money Supply M1 29116.65 28383.49 29116.65 81.57 CLP Billion [+]
Money Supply M2 101729.98 99773.04 101729.98 753.65 CLP Billion [+]
Money Supply M3 174411.53 172701.44 174411.53 1231.77 CLP Billion [+]
Foreign Exchange Reserves 38459.30 38642.60 42302.70 1998.90 USD Million [+]
Banks Balance Sheet 106291.00 105214.00 106291.00 19122.00 CLP Million [+]
Loans to Private Sector 85419.00 84847.00 85419.00 15521.00 CLP Billion [+]
Deposit Interest Rate 3.92 5.17 48.68 1.75 percent [+]
Central Bank Balance Sheet 23737.00 22646.00 24247.00 10730.92 CLP Million [+]




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