Chile Interest Rate 1995-2015 | Data | Chart | Calendar | Forecast | News

The benchmark interest rate in Chile was last recorded at 3 percent. Interest Rate in Chile averaged 4.88 percent from 1995 until 2015, 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.

      Forecast    
Chile Interest Rate


Actual Previous Highest Lowest Dates Unit Frequency
3.00 3.00 14.00 0.50 1995 - 2015 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. Content for - Chile Interest Rate - was last refreshed on Wednesday, March 4, 2015.


Chile Leaves Monetary Policy Unchanged


The Central Bank of Chile left the main interest rate on hold at 3 percent at its February 12th meeting, as widely expected, citing concerns about inflationary pressures and slow growth.

Statement by the Central Bank of Chile:

Internationally, the main news was the announcement of a quantitative easing program in the Eurozone and increased monetary stimulus in several developed economies. With a few exceptions, the prices of commodities rose. Copper is trading at a price similar to that of last month. Global financial conditions for emerging economies posted no noticeable change. The dollar strengthened further. 

January’s inflation was unexpectedly high, primarily the core measure. In the most likely scenario, annual inflation is expected to remain for some months above the upper bound of the tolerance range, and its evolution will be monitored with special attention. Medium-term inflation expectations have remained around 3%. Output and demand indicators suggest that growth rates will be in line with those included in the December Monetary Policy Report. Meanwhile, the unemployment rate dropped and nominal wages remained dynamic. Domestic financial conditions reflect the impact of the monetary stimulus.

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 | Carolina Cunha | carolina.cunha@tradingeconomics.com
2/13/2015 11:48:59 AM


Recent Releases

Chile Leaves Rates on Hold
The Central Bank of Chile decided to leave its monetary policy interest rate unchanged at 3 percent at its January 15th meeting, as widely expected, amid low growth and above-target inflation. Published on 2015-01-15

Chile Leaves Monetary Policy Unchanged
Central Bank of Chile decided to leave the monetary policy interest rate on hold at 3 percent at its December 11th meeting. Yet, policymakers said will continue monitoring inflation with special attention. Published on 2014-12-11


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-12-11 09:00 PM
Interest Rate Decision 
3% 3% 3%
2015-01-15 09:00 PM
Interest Rate Decision 
3% 3% 3% 3%
2015-02-12 09:00 PM
Interest Rate Decision 
3% 3% 3% 3%
2015-03-19 09:00 PM
Interest Rate Decision 
3% 3%
2015-04-17 10:30 PM
Interest Rate Decision 
3%
2015-05-15 11:00 PM
Interest Rate Decision 
3%


Chile Money Last Previous Highest Lowest Unit
Interest Rate 3.00 3.00 14.00 0.50 percent [+]
Interbank Rate 3.00 3.00 30.79 0.41 percent [+]
Money Supply M1 25522.25 25562.12 25562.12 81.57 CLP Billion [+]
Money Supply M2 91280.10 90768.62 91280.10 753.65 CLP Billion [+]
Money Supply M3 155314.20 155011.19 155314.20 1231.77 CLP Billion [+]
Foreign Exchange Reserves 39957.00 40452.80 42302.70 1998.90 USD Million [+]
Loans to Private Sector 76527.00 76796.00 76796.00 15521.00 CLP Billion [+]
Banks Balance Sheet 93006.00 92771.00 93006.00 19122.00 CLP Million [+]
Central Bank Balance Sheet 23745.00 21091.00 24082.00 10730.92 CLP Million [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.25 Mar/15 2.25 17.50 2.25 percent [+]
Brazil 12.25 Feb/15 12.25 45.00 7.25 percent [+]
Canada 0.75 Jan/15 1.00 16.00 0.25 percent [+]
China 5.35 Mar/15 5.60 10.98 5.31 percent [+]
Euro Area 0.05 Jan/15 0.05 4.75 0.05 percent [+]
France 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Jan/15 0.05 4.75 0.05 percent [+]
India 7.75 Feb/15 7.75 14.50 4.25 percent [+]
Indonesia 7.50 Feb/15 7.75 12.75 5.75 percent [+]
Italy 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Japan 0.00 Feb/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jan/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Russia 15.00 Jan/15 17.00 17.00 5.00 percent [+]
South Korea 2.00 Feb/15 2.00 5.25 2.00 percent [+]
Spain 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Jan/15 -0.25 3.50 -0.75 percent [+]
Turkey 7.50 Feb/15 7.75 500.00 4.50 percent [+]
United Kingdom 0.50 Feb/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jan/15 0.25 20.00 0.25 percent [+]