Chile Interest Rate  1995-2017 | Data | Chart | Calendar | Forecast | News

The Chilean Central Bank left the key rate unchanged at 3.25 percent in February of 2017 after cutting the Monetary Policy Rate (MPR) by 25 bps in January in an attempt to boost growth amid a slowdown in inflation. The decision matched consensus. The central bank stressed in its press release that more easing could come in the short term. The minutes from January’s monetary meeting had shown that policymakers decided to reduce the MPR by 25 basis points and keep the dovish bias instead of cutting it by 50 basis points and switching to a neutral stance. Inflation in January stood below the central bank’s target for the fourth consecutive month, coming at 2.8 percent year-on-year following a 2.7 percent reading in December. Interest Rate in Chile averaged 4.78 percent from 1995 until 2017, reaching an all time high of 14 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)
2016-12-13 09:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2017-01-19 09:00 PM Interest Rate Decision 3.25% 3.5% 3.25% 3.25%
2017-02-14 09:00 PM Interest Rate Decision 3.25% 3.25% 3.25% 3.25%
2017-03-01 11:30 AM MP Meeting Minutes
2017-03-16 09:10 PM Interest Rate Decision 3.25% 3%
2017-03-31 11:30 AM MP Meeting Minutes




Chile Interest Rate Kept At 3.25%


The Chilean Central Bank left the key rate unchanged at 3.25 percent in February after cutting the Monetary Policy Rate (MPR) by 25 bps in January in an attempt to boost growth amid a slowdown in inflation. Annual inflation in January stood below the central bank’s target for the fourth consecutive month, coming at 2.8 percent year-on-year following a 2.7 percent reading in December. Policymakers also said that attending the current economic scenario, it will be probably necessary to boost the monetary impulse.

Statement by the Central Bank of Chile:


Internationally, global financial conditions continued to improve and emerging economies’ asset prices have risen further, as the good performance of some economies in the region stands out. The price of copper rose, owing partly to supply- side factors. Oil has remained around the prices of a month ago. Global activity indicators continue to point to a recovery, especially in the developed world. Still, significant risks remain.

At home, annual inflation was 2.8%, consistent with forecasts in the last Monetary Policy Report. Inflation expectations at the end of the projection horizon are near target, although for the coming months they remain in the lower part of the tolerance range. Activity and demand indicators remain weak, while the labor market continues to show previous trends. Long-term interest rates fell and the peso appreciated.

The Board estimates that, in the most likely scenario, it will be necessary to boost the monetary impulse over the short term. At the same time, it reiterates its commitment to conduct monetary policy with flexibility, so that projected inflation stands at 3% over the policy horizon.



Central Bank of Chile | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
2/15/2017 6:24:32 PM



Chile Money Last Previous Highest Lowest Unit
Interest Rate 3.25 3.25 14.00 0.50 percent [+]
Interbank Rate 3.45 3.45 7.45 0.06 percent [+]
Money Supply M1 29719.93 29515.07 29719.93 81.57 CLP Billion [+]
Money Supply M2 106319.70 105908.74 106319.70 753.65 CLP Billion [+]
Money Supply M3 185471.02 185048.95 185471.02 1231.77 CLP Billion [+]
Foreign Exchange Reserves 39871.80 40483.00 42302.70 1998.90 USD Million [+]
Banks Balance Sheet 110842.00 111902.00 111902.00 19122.00 CLP Million [+]
Loans to Private Sector 88273.00 88416.00 88416.00 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 25698.00 25457.00 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 February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
3.25 3.25 14.00 0.50 1995 - 2017 percent Daily



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