At its 15 November monetary policy meeting, the Central Bank left the policy rate unchanged at 5.25%, which was in line with market expectations. The decision marked the fifth consecutive month that the Bank left rates unchanged as inflationary expectations are close to the target rate and slowing economic growth in advanced economies provide room for a further pause in the tightening cycle. In addition, the Bank acknowledged that the persistence of problems in advanced economies could shape a more adverse external scenario than the one assumed in the Report's baseline scenario, with potential consequences over growth and inflation in Chile, as well as for the orientation of monetary policy. The statement was similar to the statement issued in October but the likelihood of a rate cut increases as the European debt crisis intensifies. The next policy meeting is scheduled for 13 December.
Chile Monetary Policy
Central Bank keeps policy rate on hold
November 15, 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
The Chilean government presented the most austere budget proposal in over a decade on 30 September.
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.