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

The benchmark interest rate in Chile was last recorded at 3.25 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
3.25 3.50 14.00 0.50 1995 - 2014 Percent Monthly
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 Saturday, September 20, 2014.


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.

Statement by the Central Bank of Chile:

Internationally, incoming information confirms the outlook of recovery of the United States, and the weakening of Eurozone growth. Growth forecasts for emerging Asia remain stable, while in Latin America there is confirmed weakness in a significant part of the region. External financial conditions continue to be favorable. The prices of a majority of commodities have dropped, while copper’s has remained fairly stable. 

Output, demand and employment indicators continue to reflect the low dynamism of the Chilean economy. Even so, the unemployment rate remains low and the annual growth rate of nominal wages has risen further. In August, headline inflation remained at 4.5% annually. Medium-term inflation expectations remain around 3%, despite an increase for the figure expected for the end of this year. The most likely scenario continues to assume 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. Domestic credit conditions continue to be favorable in general, partly reflecting the impact of the monetary stimulus. 

The Board will consider the convenience of introducing further monetary stimulus in line with the evolution of domestic and external macroeconomic conditions and its implications on the inflationary outlook. At the same time, 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 | Joana Taborda | joana.taborda@tradingeconomics.com
9/11/2014 11:11:57 PM


Recent Releases

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

Chile Monetary Policy Unchanged in June
At its June 12th, 2014 meeting, Chile’ Monetary Policy Committee decided to hold the benchmark interest rate at 4.0 percent for the third straight month. Published on 2014-06-14


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-06-12 11:00 PM Chile
Interest Rate Decision
4.0% 4.0% 4% 4%
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 11:00 PM Chile
Interest Rate Decision
3.25% 3.25%


Money Last Previous Highest Lowest Unit
Interest Rate 3.25 3.50 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 [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.50 Sep/14 2.50 17.50 2.50 Percent [+]
Brazil 11.00 Sep/14 11.00 45.00 7.25 Percent [+]
Canada 1.00 Sep/14 1.00 16.00 0.25 Percent [+]
China 6.00 Aug/14 6.00 10.98 5.31 Percent [+]
Euro Area 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
France 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
Germany 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
India 8.00 Aug/14 8.00 14.50 4.25 Percent [+]
Indonesia 7.50 Sep/14 7.50 12.75 5.75 Percent [+]
Italy 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
Japan 0.00 Sep/14 0.00 9.00 0.00 Percent [+]
Mexico 3.00 Sep/14 3.00 9.25 3.00 Percent [+]
Netherlands 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
Russia 8.00 Sep/14 8.00 10.50 5.00 Percent [+]
South Korea 2.25 Sep/14 2.25 5.25 2.00 Percent [+]
Spain 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
Switzerland 0.00 Sep/14 0.00 3.50 0.00 Percent [+]
Turkey 8.25 Aug/14 8.25 500.00 4.50 Percent [+]
United Kingdom 0.50 Sep/14 0.50 17.00 0.50 Percent [+]
United States 0.25 Sep/14 0.25 20.00 0.25 Percent [+]





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