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

The Central Bank of Chile lowered its benchmark interest rate by 25bps to 3.25 percent on January 19th, 2017, as widely expected, in an attempt to boost growth amid a slowdown in inflation. Annual inflation rate fell to 2.7 percent in December, the lowest in over three years. Policymakers also said that if the recent trends of the economic scenario and inflation persist, it will be necessary to boost the monetary impulse. 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)
2016-11-17 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% 3.5% 3.5%
2017-01-19 09:00 PM Interest Rate Decision 3.25% 3.5% 3.25% 3.25%
2017-02-03 11:30 AM MP Meeting Minutes
2017-02-14 09:00 PM Interest Rate Decision
2017-03-01 11:30 AM MP Meeting Minutes




Chile Cuts Key Interest Rate To 3.25%


The Central Bank of Chile lowered its benchmark interest rate by 25bps to 3.25 percent on January 19th, 2017, as widely expected, in an attempt to boost growth amid a slowdown in inflation. Annual inflation rate fell to 2.7 percent in December, the lowest in over three years. Policymakers also said that if the recent trends of the economic scenario and inflation persist, it will be necessary to boost the monetary impulse.

Statement by the Central Bank of Chile:

Internationally, global financial conditions have improved and emerging economies’ asset prices have risen. The prices of copper and oil, beyond ups and downs, have remained above those of mid-2016. Activity indicators confirm improvements in the developed world and a weakening in Latin America.

At home, the CPI posted an unexpectedly low monthly variation, resulting in a 2.7% increase for the year. 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. Again, activity showed weak figures, this time concentrating in sectors other than natural resources. All in all, demand-side indicators continue to grow at a similar pace of previous quarters. The labor market continues along previous trends.

Long-term interest rates returned to their pre-US-election levels. As was said in the last Monetary Policy Report, the Board estimates that, if the recent trends of the economic scenario persist, and so do their implications on the mediumterm inflation outlook, it will be necessary to boost the monetary impulse. 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 | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/19/2017 9:41:53 PM



Chile Money Last Previous Highest Lowest Unit
Interest Rate 3.25 3.50 14.00 0.50 percent [+]
Interbank Rate 3.67 3.62 7.45 0.06 percent [+]
Money Supply M1 29515.07 27744.44 29515.07 81.57 CLP Billion [+]
Money Supply M2 105908.74 104100.27 105908.74 753.65 CLP Billion [+]
Money Supply M3 185048.95 184948.61 185048.95 1231.77 CLP Billion [+]
Foreign Exchange Reserves 40483.00 39430.20 42302.70 1998.90 USD Million [+]
Banks Balance Sheet 110722.00 111772.00 111837.00 19122.00 CLP Million [+]
Loans to Private Sector 88416.00 87505.00 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 25457.00 24663.00 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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
3.25 3.50 14.00 0.50 1995 - 2017 percent Daily



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