The Central Bank of Chile hiked its benchmark interest rate by 75bps to 9% during its June meeting, in line with market expectations and following a 125bps increase in the previous meeting to curb price pressures. The annual inflation rate in Chile surged to 10.5% in April, the highest since September 1994. The April CPI was once again higher than expected in the March Report, once again highlighting the rise in food prices, volatile and underlying, and other volatile components, including fuels. The rest of the underlying components did not show major differences with what was expected. The inflation expectations from the surveys —EEA and EOF—remain above 3% over two years. Given the information contained in the June Report, the Board estimates that in order to ensure the convergence of inflation to 3% over a two-year horizon, further adjustments of lower magnitude in the MPR will be necessary. source: Banco Central de Chile
Interest Rate in Chile averaged 4.39 percent from 1995 until 2022, 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 June of 2022.
Interest Rate in Chile is expected to be 9.00 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 7.25 percent in 2023, according to our econometric models.