At the latest policy meeting on 14 October, the Central Bank of Chile lifted the policy rate by 25 basis points from 2.50% to 2.75%, in a decision expected by the market. The decision follows on four consecutive 50 basis points increases since June. According to the Bank, the recent appreciation of the peso is reducing price pressures from abroad, prompting inflation to remain somewhat below expected levels. Monetary authorities added that economic activity continues to expand at a robust pace, in line with the Bank's monetary policy scenario. The Central Bank stated that it will continue to reduce the current monetary stimulus while macroeconomic conditions evolve in the coming months, as internal and external indicators are signaling a tangible economic recovery, thus allowing for further monetary tightening. Against this backdrop, Consensus Forecast panellists expect monetary authorities to push, on average, the interest rate to 3.30% by end of 2010. In 2011, the benchmark interest rate is expected to end the year at an average of 5.65%.
Chile Monetary Policy
Central Bank raises interest rates at slower pace
October 15, 2010
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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.