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

The Central Bank of Chile left its benchmark interest rate on hold at 3.5 percent on June 16th for the fifth straight meeting as widely expected. Policymakers said the inflation will continue to be watched with special attention. The bank also mention the volatility of financial markets as a result of upcoming UK referendum and the Federal Reserve’s monetary policy decision. 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 (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 June of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-12 09:10 PM Interest Rate Decision 3.50% 3.5% 3.5% 3.5%
2016-05-17 10:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-06-16 10:00 PM Interest Rate Decision 3.5% 3.5% 3.5% 3.5%
2016-07-14 09:00 PM Interest Rate Decision 3.5% 3.5%
2016-08-12 09:00 PM Interest Rate Decision 3.75%
2016-09-15 09:00 PM Interest Rate Decision 3.75%

Chile Keeps Monetary Policy on Hold


The Central Bank of Chile left its benchmark interest rate on hold at 3.5 percent on June 16th for the fifth straight meeting as widely expected. Policymakers said, inflation will continue to be watched with special attention. The bank also mention the volatility of financial markets as a result of upcoming UK referendum and the Federal Reserve’s monetary policy decision.

Statement by the Central Bank of Chile:

International financial markets remain volatile, very influenced by the upcoming referendum in the UK and the discussion around the Federal Reserve’s monetary policy decision. Long-term interest rates have dropped in the main economies. Globally, stock markets are down and the prices of many commodities have risen. Copper has been an exception. The dollar, with ups and downs, is near where it was last month. The world growth outlook presents no significant changes.

On the domestic front, in May’s CPI variation was somewhat smaller than expected and y-o-y inflation remained at 4.2%. Expected inflation two years ahead remains at 3%. The evolution of these variables will continue to be monitored with special attention. Partial second-quarter output and demand data reflect limited growth. Confidence indicators are still in pessimistic territory, salaried employment is growing at a slow pace, the unemployment rate is still low and nominal wages have slowed.

The Board estimates that, to ensure the convergence of inflation to the target, monetary policy will need to continue to normalize, at the pace that is implicit in the latest Monetary Policy Report’s baseline scenario. Nonetheless, a significant deviation of inflation’s convergence may change said pace. 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
6/16/2016 11:26:39 PM

Chile Money Last Previous Highest Lowest Unit
Interest Rate 3.50 3.50 14.00 0.50 percent [+]
Interbank Rate 4.01 4.01 7.45 0.06 percent [+]
Money Supply M1 27798.79 27798.26 29116.65 81.57 CLP Billion [+]
Money Supply M2 101984.48 101541.82 101984.48 753.65 CLP Billion [+]
Money Supply M3 177634.33 174393.82 177634.33 1231.77 CLP Billion [+]
Foreign Exchange Reserves 39848.20 39868.10 42302.70 1998.90 USD Million [+]
Banks Balance Sheet 109624.00 109733.00 109733.00 19122.00 CLP Million [+]
Loans to Private Sector 85769.00 85468.00 86087.00 15521.00 CLP Billion [+]
Deposit Interest Rate 3.92 5.17 48.68 1.75 percent [+]
Central Bank Balance Sheet 24399.00 24574.00 24574.00 10730.92 CLP Million [+]




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