At the latest monetary policy meeting on 17 March, the Central Bank raised the policy rate by 50 basis points to 4.00%, which represents a two-year high. The decision came as a surprise to market analysts, as the Central Bank had been raising rates by 25 basis points since October last year. According to the Bank, political unrest in the Middle East and North Africa, together with the devastating effects of the earthquake and tsunami that hit Japan, heightened volatility in financial and commodity markets. The Bank also stated that economic activity and inflation remain in line with expectations. However, escalating oil prices have pushed up private short-run inflation expectations. The Central Bank reiterated that it will continue to reduce the existing monetary stimulus over the coming months, as domestic and external sectors take positive strides.
Chile Monetary Policy
Central Bank accelerates the pace of monetary tightening
March 17, 2011
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Chile Economic News
October 12, 2016
In September, the Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) rose slightly, inching up from August’s record-low of 31.5 points to 33.4 points.
October 7, 2016
In September, consumer prices rose 0.2% over the previous month, which came in above August’s flat reading.
October 6, 2016
In Q3, the mood among Chilean businesses improved and reached the highest level in a year.
October 5, 2016
For a third consecutive month, the mood among Chilean businesses improved in September after it had fallen to the lowest level in over seven years in June.
October 5, 2016
In August, economic activity rose 2.5% over the same month last year, according to the monthly indicator for economic activity (IMACEC).