At its 16 January meeting, the Central Bank decided to maintain the policy rate at 4.50%. The decision was broadly in line with market expectations. This, the second meeting in which the Bank decided to keep the policy rate unchanged, followed two consecutive meetings in which the policy rate was cut by 25 basis points each time. According to the Bank, Chile's economy has displayed moderate growth dynamics in the past few months, mainly due to domestic demand having grown less than expected. In terms of price developments, the Bank added that, "inflation expectations remain around the target over the projected horizon, and the pace of nominal wages' growth shows a moderation in recent months. LatinFocus Consensus Forecast panelists see the policy rate at 4.50% by the end of the year. Panelists expect the policy rate to end next year at 4.06%.
Chile Monetary Policy
Central Bank keeps policy rate on hold
January 16, 2014
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Chile Monetary Policy Chart
Note: Monetary Policy Rate (TMP, Tasa de Politica Monetaria) in %.
Source: Chile Central Bank (BCC).
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).