Chile Interest Rate 1995-2015 | Data | Chart | Calendar | Forecast | News

The benchmark interest rate in Chile was last recorded at 3 percent. Interest Rate in Chile averaged 4.89 percent from 1995 until 2015, 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 - 2015 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 Saturday, January 31, 2015.


Chile Leaves Rates on Hold


The Central Bank of Chile decided to leave its monetary policy interest rate unchanged at 3 percent at its January 15th meeting, as widely expected, amid low growth and above-target inflation.

Statement by the Central Bank of Chile:

Internationally, the downward trend of the prices of commodities continued, with a further decline in the oil price and a drop in the price of copper. External financial conditions for the emerging economies deteriorated, while long-term rates in developed economies declined and the dollar continued to appreciate. Meanwhile, 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 expected paths of monetary policy implemented by those economies.

Output and demand indicators continue to reveal the low growth of the Chilean economy, in accordance with the December’s Monetary Policy Report´s baseline scenario. Meanwhile, the unemployment rate declined and nominal wages remain dynamic. Local financial conditions reflect the impact of the monetary stimulus. Annual inflation dropped, while core indicators kept at the same level. Medium-term inflation expectations remain around 3%. The evolution of prices will continue to be monitored with special attention.

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. 

Central Bank of Chile | Carolina Cunha | carolina.cunha@tradingeconomics.com
1/15/2015 10:11:15 PM


Recent Releases

Chile Leaves Monetary Policy Unchanged
Central Bank of Chile decided to leave the monetary policy interest rate on hold at 3 percent at its December 11th meeting. Yet, policymakers said will continue monitoring inflation with special attention. Published on 2014-12-11

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. Published on 2014-11-18


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-11-18 09:00 PM
Interest Rate Decision 
3% 3% 2.75%
2014-12-11 09:00 PM
Interest Rate Decision 
3% 3% 3%
2015-01-15 09:00 PM
Interest Rate Decision 
3% 3% 3% 3%
2015-02-12 09:00 PM
Interest Rate Decision 
3% 3%
2015-03-19 09:00 PM
Interest Rate Decision 
3%
2015-04-17 10:30 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 3.00 3.00 30.79 0.41 percent [+]
Money Supply M1 25562.12 24087.27 25562.12 81.57 CLP Billion [+]
Money Supply M2 90768.62 88635.74 90768.62 753.65 CLP Billion [+]
Money Supply M3 155011.19 151558.89 155011.19 1231.77 CLP Billion [+]
Foreign Exchange Reserves 40452.80 39911.10 42302.70 1998.90 USD Million [+]
Loans to Private Sector 76796.00 74936.00 76796.00 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 Dec/14 2.50 17.50 2.50 percent [+]
Brazil 12.25 Jan/15 11.75 45.00 7.25 percent [+]
Canada 0.75 Jan/15 1.00 16.00 0.25 percent [+]
China 5.60 Dec/14 5.60 10.98 5.31 percent [+]
Euro Area 0.05 Jan/15 0.05 4.75 0.05 percent [+]
France 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Jan/15 0.05 4.75 0.05 percent [+]
India 7.75 Jan/15 8.00 14.50 4.25 percent [+]
Indonesia 7.75 Jan/15 7.75 12.75 5.75 percent [+]
Italy 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Japan 0.00 Jan/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jan/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Russia 15.00 Jan/15 17.00 17.00 5.00 percent [+]
South Korea 2.00 Jan/15 2.00 5.25 2.00 percent [+]
Spain 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Jan/15 -0.25 3.50 -0.75 percent [+]
Turkey 7.75 Jan/15 8.25 500.00 4.50 percent [+]
United Kingdom 0.50 Aug/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jan/15 0.25 20.00 0.25 percent [+]