Chile's central bank left its benchmark interest rate unchanged at 0.50 percent for the second straight meeting, keeping borrowing costs at the lowest level on record, as widely expected. Policymakers noted that the effects of the coronavirus pandemic intensified further since the previous meeting, and said that the recent Emergency Plan will play an important role in mitigating the economic impact of the outbreak. The Committee added that the economy requires a monetary boost and decided to expand its use of non-conventional instruments, including incentives to lend to small and medium-sized firms and to non-banking credit providers and implementing a special asset purchase program. Policymakers said that will maintain a high monetary impulse for a prolonged period of time in order to ensure compliance with its objectives, it estimates that it will keep the MPR at its technical minimum over the entire projection horizon and it will explore unconventional instruments if necessary.
Interest Rate in Chile averaged 4.51 percent from 1995 until 2020, 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 July of 2020. source: Banco Central de Chile
Interest Rate in Chile is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Chile to stand at 0.50 in 12 months time. In the long-term, the Chile Interest Rate is projected to trend around 0.75 percent in 2021 and 1.00 percent in 2022, according to our econometric models.