Chile's central bank raised its monetary policy interest rate by 25 bps to 0.75 during its July meeting, aiming to support a weak peso that has touched its lowest level so far this year due to the recent drop in copper prices and broad dollar strength. Headline inflation rose to 3.8 percent in June, its highest since February 2020 and above the central bank's mid-point target of 3 percent, while economic activity has exceeded expectations. Policymakers see the activity gap continuing to close rapidly, accompanied by a high fiscal impulse and a strongly dynamic consumption, which creates the conditions for a gradual withdrawal of the monetary impulse. source: Banco Central de Chile

Interest Rate in Chile averaged 4.37 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 July of 2021.

Interest Rate in Chile is expected to be 1.00 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 2.00 in 12 months time. In the long-term, the Chile Interest Rate is projected to trend around 2.50 percent in 2022 and 3.00 percent in 2023, according to our econometric models.

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Chile Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.75 0.50 14.00 0.50 1995 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2021-03-30 09:00 PM Interest Rate Decision 0.5% 0.5% 0.5% 0.5%
2021-05-13 10:00 PM Interest Rate Decision 0.5% 0.5% 0.5%
2021-06-08 10:00 PM Interest Rate Decision 0.5% 0.5% 0.5%
2021-07-14 10:00 PM Interest Rate Decision 0.75% 0.5% 0.75% 0.75%
2021-07-30 11:30 AM Monetary Policy Meeting Minutes
2021-08-31 10:00 PM Interest Rate Decision 0.75% 1%
2021-09-15 11:30 AM Monetary Policy Meeting Minutes
2021-10-13 10:00 PM Interest Rate Decision
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Chile Hikes Policy Interest Rate to 0.75%
Chile's central bank raised its monetary policy interest rate by 25 bps to 0.75 during its July meeting, aiming to support a weak peso that has touched its lowest level so far this year due to the recent drop in copper prices and broad dollar strength. Headline inflation rose to 3.8 percent in June, its highest since February 2020 and above the central bank's mid-point target of 3 percent, while economic activity has exceeded expectations. Policymakers see the activity gap continuing to close rapidly, accompanied by a high fiscal impulse and a strongly dynamic consumption, which creates the conditions for a gradual withdrawal of the monetary impulse.
2021-07-14
Bank of Chile Keeps Interest Rate at Record Low
Chile's central bank held its benchmark interest rate at a record low of 0.50% on 8 June 2021, as widely expected. Policymakers said that the prospects for economic recovery have improved as vaccine rollouts lead to a reopening of the economy. However, the Council noted that high levels of consumption and private spending represent a significant change for the macroeconomic scenario, making it necessary to adjust the expansiveness of monetary policy in the future.
2021-06-08
Bank of Chile Keeps Interest Rate at Record Low
Chile's central bank held its benchmark interest rate at a record low of 0.50% on 13 May 2021, as widely expected. Policymakers noted that the prospects for economic recovery have improved as vaccine rollouts lead to a reopening of the economy. Along with this, however, concerns about inflation have risen due to higher cost pressures and strong pent-up demand. Given the above, the Board will keep monetary policy ultra-accommodative for the foreseeable future to achieve the objectives.
2021-05-13
Chile Holds Interest Rate at 0.5%
Chile's central bank held its benchmark interest rate at a record low of 0.50% on 30 March 2021, as widely expected. Policymakers noted that global activity has been surpassing expectations as economies adapt to the pandemic. The Committee underscored that domestic inflation continues to hover around 3% and that risks and readings remain in both directions, and added that inflationary pressures have been observed in gasolines and fruits & vegetables. Policymakers reiterated that they will maintain a strong monetary stimulus for an extended period to ensure that its objectives are achieved. The Committee foresees that it will hold the MPR at its minimum level over a big part of the two-year monetary policy horizon and will maintain the unconventional measures in place, thus continuing with the current asset purchase program.
2021-03-30

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.