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

The Central Bank of Chile kept its benchmark interest rate on hold at 3.5 percent on August 11th as widely expected, saying inflation returned to the tolerance range while its development will continue to be monitored with special attention. Meanwhile, policymakers voiced concerns about limited economic growth and weak confidence indicators. Interest Rate in Chile averaged 4.80 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.

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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 (Banco 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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-06-16 10:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-07-14 10:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-08-11 10:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.75%
2016-09-15 10:00 PM Interest Rate Decision 3.5% 3.75%
2016-10-14 10:00 PM Interest Rate Decision 3.75%
2016-11-11 09:00 PM Interest Rate Decision 4%

Chile Holds Interest Rate at 3.5% in August


The Central Bank of Chile kept its benchmark interest rate on hold at 3.5 percent on August 11th as widely expected, saying inflation returned to the tolerance range while its development will continue to be monitored with special attention. Meanwhile, policymakers voiced concerns about limited economic growth and weak confidence indicators.

Internationally, monetary and financial conditions are still expansionary and long-term interest rates remain low. It is worth noting the increased appetite for risk in global financial markets, particularly for emerging economies’ assets. This has resulted in a drop in their sovereign premia, an increase in their stock markets and an appreciation of their currencies. On aggregate, world growth prospects are generally unchanged. Most commodity prices posted limited declines.

On the domestic front, although July’s inflation was somewhat higher than expected, the annual CPI variation returned to the tolerance range. Expected inflation two years ahead remains at 3%. The evolution of these variables will continue to be monitored with special attention. Second-quarter output and demand data showed limited growth. Confidence indicators are still in pessimistic territory. The labor market continues to reflect a gradual deterioration, but the unemployment rate has remained stable. The peso has appreciated.

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 Ferreira | joana.ferreira@tradingeconomics.com
8/11/2016 11:23:38 PM

Chile Money Last Previous Highest Lowest Unit
Interest Rate 3.50 3.50 14.00 0.50 percent [+]
Interbank Rate 3.97 3.92 7.45 0.06 percent [+]
Money Supply M1 27739.32 28025.06 29116.65 81.57 CLP Billion [+]
Money Supply M2 102286.81 102832.58 102832.58 753.65 CLP Billion [+]
Money Supply M3 181182.39 179205.43 181182.39 1231.77 CLP Billion [+]
Foreign Exchange Reserves 39415.30 39683.10 42302.70 1998.90 USD Million [+]
Banks Balance Sheet 109700.00 110565.00 110565.00 19122.00 CLP Million [+]
Loans to Private Sector 86810.00 87178.00 87178.00 15521.00 CLP Billion [+]
Deposit Interest Rate 3.92 5.17 48.68 1.75 percent [+]
Private Debt to GDP 199.27 191.03 199.27 148.14 percent [+]
Central Bank Balance Sheet 25726.00 24177.00 25726.00 10730.92 CLP Million [+]




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