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 at its April 2016 meeting as widely expected, aiming to bring the inflation back to target of 3 percent. Interest Rate in Chile averaged 4.82 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 April of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-11 09:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-03-17 09:10 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-04-12 09:10 PM Interest Rate Decision 3.50% 3.5% 3.5% 3.5%
2016-05-17 09:00 PM Interest Rate Decision 3.5% 3.5%
2016-06-16 09:00 PM Interest Rate Decision 3.5%
2016-07-14 09:00 PM Interest Rate Decision 3.5%

Chile Holds Key Rate Steady


The Central Bank of Chile left its benchmark interest rate unchanged at 3.5 percent at its April 2016 meeting as widely expected, aiming to bring the inflation back to target of 3 percent.

Statement by the Central Bank of Chile:

International financial markets have been relatively calm, showing mixed movements during the
last month. In spite of this, risks remain. Long term interest rates of developed economies remain
low, forecasts for world growth do not show relevant changes and commodity prices had mixed
movements during this month.

On the domestic front, March CPI inflation was lower than expected and its annual change was
4,5%. It is expected to remain over 4% for some months. Inflation expectations two years out
remain at 3%. The evolution of these variables will continue to be monitored with special
attention. Available activity data was higher than expected, but are still broadly in line with the
baseline scenario of the Monetary Policy Report. Confidence indicators are still in pessimistic
territory. The annual growth rate of salaried employment and the unemployment rate showed no
major changes. The pace of annual wage growth decreased.

In line with the Monetary Policy Report released in March, the Board estimates that to ensure the
convergence of inflation to the target, monetary policy will need to continue with its
normalization, at a pace that will depend on incoming information and its implications on inflation
projections. 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 | Mojdeh Kazemi | mojdeh@tradingeconomics.com
4/12/2016 11:34:20 PM

Chile Money Last Previous Highest Lowest Unit
Interest Rate 3.50 3.50 14.00 0.50 percent [+]
Interbank Rate 4.01 4.00 7.45 0.06 percent [+]
Money Supply M1 27808.72 28647.00 29116.65 81.57 CLP Billion [+]
Money Supply M2 101325.01 101250.52 101729.98 753.65 CLP Billion [+]
Money Supply M3 174219.60 175242.20 175242.20 1231.77 CLP Billion [+]
Foreign Exchange Reserves 39553.00 38253.70 42302.70 1998.90 USD Million [+]
Banks Balance Sheet 109733.00 109449.00 109733.00 19122.00 CLP Million [+]
Loans to Private Sector 85904.00 86087.00 86087.00 15521.00 CLP Billion [+]
Deposit Interest Rate 3.92 5.17 48.68 1.75 percent [+]
Central Bank Balance Sheet 23330.00 24422.00 24422.00 10730.92 CLP Million [+]




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