At its 14 February policy meeting, the Central Bank left the policy rate unchanged at 5.00%, a decision that was in line with expectations amid stronger-than-expected growth and low inflation. Policy makers last changed the policy rate in January 2012, with a surprise cut of 0.25 percentage points. In its statement, the Bank noted that financial conditions have stabilized but risks from the Eurozone debt crisis remain high. In addition, the Bank underlined a pick-up in fuel and metal prices. On the domestic front, demand and output exceeded forecasts from the last Monetary Policy Report, while the labour market remains tight. Regarding the inflation outlook, the board sees headline and core inflation contained in line with the Bank's target in the policy horizon. The next policy meeting is scheduled for 14 March.
Chile Monetary Policy
Central Bank maintains neutral stance
February 14, 2013
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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).