At its 13 November policy meeting, the Central Bank left the policy rate unchanged at 5.00%, in line with expectations, as stronger-than-expected domestic demand offset the slowdown in the external sector. Policy makers last changed the policy rate in January, when they cut rates by 0.25 percentage points. In its statement, the Bank noted that "uncertainty persists about the fiscal and financial situation in the Eurozone, as does the risk of a sharp fiscal adjustment in the United States". In addition, the Bank underlined that commodity prices have declined. Monetary authorities stated that inflation is around 3.0%, and inflation expectations remain within the Bank's target. The next policy meeting is scheduled for 13 December.
Chile Monetary Policy
Central Bank maintains wait-and-see approach
November 13, 2012
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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.
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In September, consumer prices rose 0.2% over the previous month, which came in above August’s flat reading.
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The Chilean government presented the most austere budget proposal in over a decade on 30 September.
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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.