At its latest monetary policy meeting on 12 May, the Central Bank raised the policy rate by 50 basis points to 5.00%, following a similar move at its previous meeting. The hike surprised the market, as analysts had seen the Bank slowing the pace of rate increases. According to the Bank, commodity prices have dropped substantially and concerns on financial risk in Europe persist. In addition, the Bank highlighted a reversal of private inflation expectations, which nonetheless remain above target. The next meeting is scheduled for 14 June. The Central Bank reiterated that it will continue to lift interest rates over the coming months, although the pace of increase will depend on inflationary expectations.
Chile Monetary Policy
Central Bank defies market expectations hiking rates again
May 12, 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).