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 November 14th of 2017, leaving the rate unchanged for the sixth straight meeting. The outcome matched consensus expectations, and leaves the interest rate at its lowest level since September of 2010. Policymakers underscored that the global outlook remained practically unchanged since the previous meeting. They also mentioned that investment remains subdued, mainly affected by construction activity. Chile's annual consumer price inflation rose to 1.9 percent in October 2017 from a four-year low of 1.5 percent in September. Interest Rate in Chile averaged 4.72 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 Holds Interest Rate Unchanged for 6th Meeting


Chile’s central bank kept the benchmark interest rate unchanged at 2.50 percent on November 14th of 2017, leaving the rate unchanged for the sixth straight meeting. The outcome matched consensus expectations, and leaves the interest rate at its lowest level since September of 2010. Policymakers underscored that the global outlook remained practically unchanged since the previous meeting. They also mentioned that investment remains subdued, mainly affected by construction activity. Chile's annual consumer price inflation rose to 1.9 percent in October 2017 from a four-year low of 1.5 percent in September.

Statement by the Central Bank of Chile:

On the external front, third-quarter activity figures are consistent with a more dynamic scenario. Global financial conditions show no major changes. The oil price increased in recent weeks, while the copper price declined slightly, but it is still above expectations.

At home, October’s CPI inflation of 0.6% exceeded the forecast, partly undoing the negative surprise of September, and placing annual inflation at 1.9%. Inflation expectations at short terms remain low, and medium-term expectations have remained constant. Third-quarter data at hand show the evolution of activity and demand in line with the latest Monetary Policy Report’s baseline scenario. Private consumption has performed in line with the labor market’s evolution and with not-so-pessimistic expectations. Investment is still weak, affected by construction activity.

Activity figures made available after the September Report are consistent with the baseline scenario and the monetary impulse depicted therein. However, inflation will remain low in the short term. This could delay its convergence to the target within the two-year horizon. The Board will pay special attention to this risk—already identified in the Report—as it could require adjusting the policy rate. At the same time, the Board reiterates its commitment to conduct monetary policy with flexibility, so that projected inflation stands at 3% over the two-year horizon.


Mario | mario@tradingeconomics.com
11/15/2017 5:00:34 PM



Calendar GMT Actual Previous Consensus TEForecast
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 2.50% 2.5% 2.5% 2.5%
2017-11-14 09:00 PM Interest Rate Decision 2.50% 2.50% 2.50% 2.5%
2017-12-14 09:00 PM Interest Rate Decision 2.50%


Chile Money Last Previous Highest Lowest Unit
Interest Rate 2.50 2.50 14.00 0.50 percent [+]
Interbank Rate 2.96 2.93 7.45 0.06 percent [+]
Money Supply M1 30702.66 30195.27 30702.66 81.57 CLP Billion [+]
Money Supply M2 121717.07 121790.92 121790.92 753.65 CLP Billion [+]
Money Supply M3 208497.00 208244.08 208497.00 1231.77 CLP Billion [+]
Foreign Exchange Reserves 39263.60 39035.00 42302.70 1998.90 USD Million [+]
Banks Balance Sheet 115602.00 114477.00 115602.00 19122.00 CLP Million [+]
Loans to Private Sector 89629.00 89228.00 89629.00 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 27001.00 24783.00 27125.00 10730.92 CLP Million [+]


Chile Interest Rate

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 November 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
Country Last
Russia 8.25 Oct/17
Turkey 8.00 Oct/17
Brazil 7.50 Oct/17
Mexico 7.00 Nov/17
India 6.00 Oct/17
China 4.35 Oct/17
Indonesia 4.25 Nov/17
Australia 1.50 Nov/17
South Korea 1.25 Oct/17
United States 1.25 Nov/17
Canada 1.00 Oct/17
United Kingdom 0.50 Nov/17
Euro Area 0.00 Oct/17
France 0.00 Oct/17
Germany 0.00 Oct/17
Italy 0.00 Oct/17
Netherlands 0.00 Oct/17
Spain 0.00 Oct/17
Japan -0.10 Oct/17
Switzerland -0.75 Oct/17