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

Chile’s central bank kept the benchmark interest rate unchanged at 2.50 percent on September 14th of 2017, leaving the rate unchanged for the fourth straight meeting. The outcome matched consensus expectations, and leaves the interest rate standing at its lowest level since September of 2010. Policymakers underscored that economic conditions improved since the last meeting, with copper prices climbing over the last months despite a recent downturn. Members of the board did not adopt an explicit bias on this occasion. Chile's consumer prices increased 1.9 percent year-on-year in August of 2017, above 1.7 percent in the previous month. It was the highest inflation rate since May. Interest Rate in Chile averaged 4.73 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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Chile Key Rate Kept On Hold for 4th Straight Meeting


Chile’s central bank kept the benchmark interest rate unchanged at 2.50 percent in September 14th of 2017, leaving the rate unchanged for the fourth straight meeting. The outcome matched consensus expectations, and leaves the interest rate standing at its lowest level since September of 2010. Policymakers underscored that economic conditions improved since the last meeting, with copper prices climbing over the last months despite a recent downturn. Members of the board did not adopt an explicit bias on this occasion. Chile's consumer prices increased 1.9 percent year-on-year in August of 2017, above 1.7 percent in the previous month. It was the highest inflation rate since May.

Statement by the Central Bank of Chile:

On the external front, the financial markets were somewhat more volatile, in a context where global financial conditions remain favorable and the US dollar has weakened. World activity prospects are still positive; commodity prices rose in the last month, including copper, even considering its recent drop.

On the domestic front, August’s inflation was in line with forecasts in the last Monetary Policy Report, at 1.9% annually. Inflation expectations at shorter terms have fallen, reflecting the effects of the peso appreciation, but remain around 3% two years out. Regarding activity, the improved performance of consumption-related sectors continues to stand out, outperforming those related with investment. The behavior of private consumption reflects the labor market situation and not-so-pessimistic expectations.

Incoming data since the publication of the September Report are consistent with the baseline scenario and the monetary impulse described therein, i.e., the policy rate staying close to its current levels and beginning to rise to neutral only once the economy starts closing the activity gap. The risk balance has not changed either. In particular, the risk balance for medium-term inflation and activity are estimated to be unbiased, but with a downward bias for short-term inflation. As always, the Board will continue to monitor any deviations of the baseline scenario that may hinder the convergence of inflation to 3% over a two-year horizon and warrant moving the monetary policy interest rate.

Mario | mario@tradingeconomics.com
9/15/2017 10:57:55 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-07-13 10:00 PM Interest Rate Decision 2.5% 2.5% 2.5% 2.5%
2017-08-17 09:00 PM Interest Rate Decision 2.5% 2.5% 2.5% 2.5%
2017-09-14 09:00 PM Interest Rate Decision 2.50% 2.50% 2.50% 2.5%
2017-10-19 09:00 PM Interest Rate Decision 2.5%
2017-11-14 09:00 PM Interest Rate Decision
2017-12-14 09:00 PM Interest Rate Decision


Chile Money Last Previous Highest Lowest Unit
Interest Rate 2.50 2.50 14.00 0.50 percent [+]
Interbank Rate 2.82 2.82 7.45 0.06 percent [+]
Money Supply M1 29933.11 30058.42 30615.49 81.57 CLP Billion [+]
Money Supply M2 108686.76 107714.52 108686.76 753.65 CLP Billion [+]
Money Supply M3 195208.61 194167.56 195208.61 1231.77 CLP Billion [+]
Foreign Exchange Reserves 38468.50 40029.10 42302.70 1998.90 USD Million [+]
Banks Balance Sheet 115640.00 113532.00 115640.00 19122.00 CLP Million [+]
Loans to Private Sector 89131.00 89110.00 89614.00 15521.00 CLP Billion [+]
Deposit Interest Rate 3.80 3.60 48.68 1.75 percent [+]
Private Debt to GDP 198.60 201.20 201.20 137.70 percent [+]
Central Bank Balance Sheet 24508.00 26898.00 26898.00 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 September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.50 2.50 14.00 0.50 1995 - 2017 percent Daily



interest rate by Country

Last
Russia 8.50 Sep/17
Brazil 8.25 Sep/17
Turkey 8.00 Sep/17
Mexico 7.00 Aug/17
India 6.00 Aug/17
Indonesia 4.50 Aug/17
China 4.35 Aug/17
Australia 1.50 Sep/17
South Korea 1.25 Aug/17
United States 1.25 Aug/17
Canada 1.00 Sep/17
United Kingdom 0.25 Sep/17
Euro Area 0.00 Sep/17
France 0.00 Sep/17
Germany 0.00 Sep/17
Italy 0.00 Sep/17
Netherlands 0.00 Sep/17
Spain 0.00 Sep/17
Japan -0.10 Aug/17
Switzerland -0.75 Sep/17