Chile Interest Rate 1995-2014 | Data | Chart | Calendar | Forecast | News

The benchmark interest rate in Chile was last recorded at 3 percent. Interest Rate in Chile averaged 4.91 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. Interest Rate in Chile is reported by the Banco Central de Chile.


Chile Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.00 3.25 14.00 0.50 1995 - 2014 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 Friday, October 31, 2014.

Central Bank of Chile Lowers Key Rate to 3%

At its October 16th meeting, Central Bank of Chile decided to cut the monetary policy rate for the fourth straight meeting by 25 bps to 3 percent, aiming to boost weak growth.

Statement by the Central Bank of Chile:

Internationally, recent indicators suggest that, in the incoming quarters, world growth and inflation could be somewhat lower than expected. The prices of commodities, including copper, have declined, with a notorious drop in world fuel prices. Most recently, interest rates have fallen in developed countries, while volatility has increased in financial markets. Most emerging economies are showing higher risk premiums and depreciated currencies.

Output, demand and employment indicators continue to reveal the low dynamism of the Chilean economy, in line with forecasts. Local financing conditions reflect the impact of the monetary stimulus. September’s inflation was again higher than expected, at 4.9% y-o-y. The most likely scenario assumes that inflation will stay above the upper bound of the tolerance range still for some months, to later return to the target. This evolution will continue to be monitored with special attention. Medium-term inflation expectations have remained around 3%.

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 | Joana Taborda |
10/16/2014 10:29:15 PM

Recent Releases

Chile Cuts Interest Rate to 3.25%
At its September 11th, 2014 meeting, Chile's central bank decided to cut the benchmark interest rate by 25 bps to 3.25 percent. It is the third consecutive rate cut as output, demand and employment continue to reflect the low dynamism of the Chilean economy. Published on 2014-09-11

Chile Cuts Interest Rate to 3.75%
At its July 15th meeting, Central Bank of Chile decided to lower the monetary policy interest rate by 25 bps to 3.75 percent. It is the third rate cut this year, as inflation remains above target. Published on 2014-07-15

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-07-15 11:00 PM Chile
Interest Rate Decision
3.75% 4.0% 4.0% 4%
2014-08-14 11:00 PM Chile
Interest Rate Decision
3.5% 3.75% 3.5% 3.75%
2014-09-11 11:00 PM Chile
Interest Rate Decision
3.25% 3.5% 3.25% 3.5%
2014-10-16 10:00 PM Chile
Interest Rate Decision
3.0% 3.25% 3.0% 3%
2014-11-18 11:00 PM Chile
Interest Rate Decision
3.0% 2.75%

Chile Money Last Previous Highest Lowest Unit
Interest Rate 3.00 3.25 14.00 0.50 Percent [+]
Interbank Rate 3.75 3.88 8.26 0.21 Percent [+]
Money Supply M1 22782.76 23064.90 23064.90 81.57 CLP Billion [+]
Money Supply M2 84860.98 83525.70 84860.98 753.65 CLP Billion [+]
Money Supply M3 146695.60 145500.29 146695.60 1231.77 CLP Billion [+]
Foreign Exchange Reserves 40369.00 40799.90 42302.20 1998.90 USD Million [+]
Loans to Private Sector 73236.00 73006.00 73006.00 15521.00 CLP Billion [+]
Banks Balance Sheet 90248.67 90411.22 90411.22 19122.00 CLP Million [+]
Central Bank Balance Sheet 23104.84 22391.44 23458.00 10730.92 CLP Million [+]