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

The benchmark interest rate in Chile was last recorded at 3 percent. Interest Rate in Chile averaged 4.90 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.

   
  Forecast  

Chile Interest Rate


Actual Previous Highest Lowest Dates Unit Frequency
3.00 3.00 14.00 0.50 1995 - 2014 percent Daily
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 Friday, November 28, 2014.


Chile Leaves Rate on Hold


Central Bank of Chile decided to leave the monetary policy interest rate on hold at 3 percent at its November meeting amid weak growth and high inflation.

Statement by the Central Bank of Chile:

Internationally, recent information confirms the outlook of good economic performance in the United States and slower growth and low inflation in the Eurozone and Japan, a development that has widened the differences in the monetary policy implemented by those economies. External financial conditions tended to normalize during the month, but new outbreaks of volatility cannot be ruled out. Growth forecasts for emerging Asia have been revised down slightly, while for Latin America weak performance is confirmed in the larger part of the region. The price of oil dropped again, while the price of copper has been fairly stable.

Output, demand, and employment indicators continue to reveal the low dynamism of the Chilean economy. Local financial conditions reflect the impact of the monetary span stimulus. October’s inflation was significantly higher than expected, at 5.7% y-o-y. The most likely scenario assumes that inflation will stay above the upper bound of the tolerance range still for some months. This surprise in inflation may be linked primarily to one-off temporary factors. The evolution of prices will continue to be monitored with special attention. Medium-term inflation expectations have remained around 3%.

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.



Joana Taborda | joana.taborda@tradingeconomics.com
11/18/2014 9:54:55 PM


Recent Releases

Central Bank of Chile Lowers Key Rate to 3%
At its October 16th meeting, Central Bank of Chile decided to cut the monetary policy rate for the fourth straight meeting by 25 bps to 3 percent, aiming to boost weak growth. Published on 2014-10-16

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. Published on 2014-09-11


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-09-11 11:00 PM
Interest Rate Decision 
3.25% 3.5% 3.25% 3.5%
2014-10-16 10:00 PM
Interest Rate Decision 
3.0% 3.25% 3.0% 3%
2014-11-18 09:00 PM
Interest Rate Decision 
3% 3% 2.75%
2014-12-11 09:00 PM
Interest Rate Decision 
3%


Chile Money Last Previous Highest Lowest Unit
Interest Rate 3.00 3.00 14.00 0.50 percent [+]
Interbank Rate 3.15 3.35 8.26 0.21 percent [+]
Money Supply M1 22815.63 23217.34 23217.34 81.57 CLP Billion [+]
Money Supply M2 86183.58 85925.67 86183.58 753.65 CLP Billion [+]
Money Supply M3 149340.81 150433.76 150433.76 1231.77 CLP Billion [+]
Foreign Exchange Reserves 39807.20 40087.20 42302.20 1998.90 USD Million [+]
Loans to Private Sector 74707.00 73840.00 74707.00 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 Nov/14 2.50 17.50 2.50 percent [+]
Brazil 11.25 Oct/14 11.00 45.00 7.25 percent [+]
Canada 1.00 Oct/14 1.00 16.00 0.25 percent [+]
China 5.60 Nov/14 6.00 10.98 5.31 percent [+]
Euro Area 0.05 Nov/14 0.05 4.75 0.05 percent [+]
France 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Germany 0.05 Nov/14 0.05 4.75 0.05 percent [+]
India 8.00 Oct/14 8.00 14.50 4.25 percent [+]
Indonesia 7.75 Nov/14 7.50 12.75 5.75 percent [+]
Italy 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Japan 0.00 Nov/14 0.00 9.00 0.00 percent [+]
Mexico 3.00 Oct/14 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Russia 9.50 Oct/14 8.00 10.50 5.00 percent [+]
South Korea 2.00 Nov/14 2.00 5.25 2.00 percent [+]
Spain 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Switzerland 0.00 Oct/14 0.00 3.50 0.00 percent [+]
Turkey 8.25 Nov/14 8.25 500.00 4.50 percent [+]
United Kingdom 0.50 Nov/14 0.50 17.00 0.50 percent [+]
United States 0.25 Oct/14 0.25 20.00 0.25 percent [+]