Chile's central bank lifted its monetary policy interest rate by 125 bps to 2.75% during its October 2021 meeting, above market estimates of 2.5% as the evolution of the macroeconomic scenario has increased the risks regarding the convergence of inflation to the 3% target within the policy horizon. The move follows a 75 bps hike in late August by the bank. The Board has decided to anticipate the withdrawal of the monetary stimulus, projecting that the policy rate will reach its neutral level sooner than foreseen in the September Report’s central scenario. In September, the annual variation of the CPI rose to 5.3%, outweighing expectations, while its core part accumulated an annual increase of 4.2%, close to the forecast in the September Monetary Policy Report. source: Banco Central de Chile
Interest Rate in Chile averaged 4.35 percent from 1995 until 2021, reaching an all time high of 14 percent in September of 1998 and a record low of 0.50 percent in July of 2009. This page provides - Chile Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Chile Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.
Interest Rate in Chile is expected to be 2.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Chile Interest Rate is projected to trend around 3.00 percent in 2022, according to our econometric models.