Interest Rate in Chile
Chile - Interest Rate
Central Bank stays put in May
At its 9 May monetary policy meeting, the Board of the Central Bank of Chile (BCCh) voted unanimously to leave the key policy rate unchanged at 3.00%, amid weaker-than-expected inflation. The decision was in line with analysts’ expectations.
In its communiqué, the Board remarked that inflation remained at the floor of the Bank’s 3.0% plus or minus 1.0 percentage point tolerance band in April. The rate was thus left at 3.0% for a longer period of time in an effort to push inflation towards target by the end of 2020.
Looking ahead, the Board did not reiterate its commitment to further monetary tightening in order to reach a neutral key rate in the medium-term. Instead, it will reassess its normalization trajectory during its next meeting, to account for the deceleration in domestic activity and the dovish turn taken by the central banks of major economies.
The next monetary policy meeting is scheduled for 7 June.
The BCCh sees inflation ending 2019 at 2.6% and 2020 at 3.0%. LatinFocus Consensus Forecast panelists are still assessing the Bank’s decision. The current consensus is for the policy rate to increase gradually going forward, ending 2019 at 3.24% and 2020 at 3.68%.
Chile - Interest Rate Data
|Policy Interest Rate (%)||4.50||3.00||3.50||3.50||2.50|
5 years of economic forecasts for more than 30 economic indicators.
Chile Interest Rate Chart
|Bond Yield||4.11||-0.44 %||May 13|
|Exchange Rate||693.4||0.05 %||May 13|
|Stock Market||25,375||-0.67 %||May 13|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
May 9, 2019
At its 9 May monetary policy meeting, the Board of the Central Bank of Chile (BCCh) voted unanimously to leave the key policy rate unchanged at 3.00%, amid weaker-than-expected inflation.
May 8, 2019
According to the National Statistical Institute (INE), consumer prices rose 0.3% month-on-month in April, after March’s 0.5% result.
May 6, 2019
In March, the IMACEC index picked up on the heels of February’s slowdown, which saw the lowest reading since June 2017.
May 6, 2019
The Adimark GfK consumer confidence index rose to 43.2 points in April, from 42.3 points in March.
May 2, 2019
Copper prices remained fairly stable throughout April.