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

The Central Bank of Chile left its benchmark monetary policy interest rate unchanged at 3.5 percent on November 16th, 2016, as widely expected. Policymakers said in October, the monthly CPI variation was again unexpectedly low, driving annual inflation to 2.8 percent. At short terms, inflation expectations have dropped, but are near the target of 3 percent at the end of the projection horizon. In the third quarter, domestic output and demand behaved in line with forecasts and the labor market continues to adjust gradually. Interest Rate in Chile averaged 4.79 percent from 1995 until 2016, reaching an all time high of 14.00 percent in September of 1998 and a record low of 0.50 percent in July of 2009.

Chile Interest Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-09-15 09:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-10-18 09:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-11-17 09:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-12-13 09:00 PM Interest Rate Decision 3.5% 3.5%
2017-01-13 09:00 PM Interest Rate Decision
2017-02-10 09:00 PM Interest Rate Decision




Chile Holds Key Rate at 3.5%


The Central Bank of Chile left its benchmark monetary policy interest rate unchanged at 3.5 percent on November 16th, 2016, as widely expected. Policymakers said in October, the monthly CPI variation was again unexpectedly low, driving annual inflation to 2.8 percent. At short terms, inflation expectations have dropped, but are near the target of 3 percent at the end of the projection horizon.

Statement by the Central Bank of Chile:

Internationally, the volatility of financial markets increased after the US elections. It is
worth noting the appreciation of the dollar and especially the rise in long-term rates.
Financial conditions facing emerging economies worsened, but remain better than they
were early in the year. Commodity prices have posted mixed movements. The prices of
metals—especially copper—increased, while those for oil and derivatives fell. Activity
indicators and prospects show no important change, but the potential effects of recent
events have yet to become apparent.

In October, the monthly CPI variation was again unexpectedly low, driving annual
inflation to 2.8%. At short terms, inflation expectations have dropped, but are near the
target at the end of the projection horizon. In the third quarter, domestic output and
demand behaved in line with forecasts in the September Monetary Policy Report.
Accordingly, the labor market continues to adjust gradually. Long-term interest rates
have increased.

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 | Yekaterina Guchshina | yekaterina@tradingeconomics.com
11/18/2016 10:26:09 AM



Chile Money Last Previous Highest Lowest Unit
Interest Rate 3.50 3.50 14.00 0.50 percent [+]
Interbank Rate 4.06 4.04 7.45 0.06 percent [+]
Money Supply M1 27326.45 27941.63 29116.65 81.57 CLP Billion [+]
Money Supply M2 103340.93 103359.48 103359.48 753.65 CLP Billion [+]
Money Supply M3 182452.75 182784.23 182784.23 1231.77 CLP Billion [+]
Foreign Exchange Reserves 39017.70 39436.60 42302.70 1998.90 USD Million [+]
Banks Balance Sheet 111772.00 111245.00 111837.00 19122.00 CLP Million [+]
Loans to Private Sector 87589.00 87881.00 87881.00 15521.00 CLP Billion [+]
Deposit Interest Rate 3.60 3.92 48.68 1.75 percent [+]
Private Debt to GDP 198.79 191.03 198.79 148.14 percent [+]
Central Bank Balance Sheet 24633.00 25497.00 25749.00 10730.92 CLP Million [+]



Chile Interest Rate Notes

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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.50 14.00 0.50 1995 - 2016 percent Daily



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