Central Bank of Chile

Central Bank of Chile: Board Leaves Policy Unchanged

November 15, 2017

Chile’s monetary policy rate had been reduced by 25 basis points four times during the first five months of 2017 to the current level of 2.5%. That’s higher than the present on-year CPI inflation rate of 1.9% but below the center of the medium-term 2-4% CPI target. In a statement after the latest Board meeting, […] More

Central Bank of Chile

October 19, 2017

Chilean monetary officials once again left the key interest rate at 2.5%. The last reduction in May capped four 25-basis point moves during the first five months of 2017 to the current level. The rate had been at 3.5% throughout the entirety of 2016. Officials run an inflation-stabilization monetary policy, targeting the CPI at 3.0% […] More

Central Bank of Chile’s Policy Rate Kept at 2.5%

September 14, 2017

Chile’s policy interest rate was cut four times by 25 basis points each in the first five months of 2017 and has been at 2.5% since May after holding at 3.5% all of last year. The latest policy review found little had change since last month’s meeting. Inflation of 1.9% is below the 3% medium-term […] More

Central Bank of Chile

August 17, 2017

The latest review of Chilean monetary policy ended with a decision to leave the key interest rate at 2.5%, the level since the last of four 25-basis point cuts implemented between January and May of this year. The policy bias remains neutral. Inflation of 1.7% currently lies below the target of 3%, but officials still […] More

Central Bank of Chile Interest Rate Lowered to 2.50%

May 18, 2017

The central bank Board made its fourth 25-basis point interest rate cut of 2017 today, following similar moves in January, March and April. January’s reduction was the first change since a pair of 25-basis point increase in October and December of 2015 and the first reduction since October 2014. A statement released after the May […] More

Central Bank of Chile Cuts Interest Rate to 3.0%

March 17, 2017

The Chilean monetary policy rate had been 3.5% for 13 months until a 25-basis point reduction in January, and now a second such cut has been engineered and statement released suggesting more easing may lie ahead: “if the recent trends of the economic scenario persist, and so do their implications on the medium-term inflation outlook, […] More

Central Bank of Chile

February 14, 2017

A 25-basis point cut of Chile’s central bank interest rate to 3.25% had been the first reduction since October 2014. In between there were two 25-basis point increases in the final quarter of 2015. At its February meeting today, the central bank Board elected not to reduce the rate further this month but signaled a […] More

Central Bank of Chile Cuts Interest Rate

January 19, 2017

A 25-basis point reduction to 3.25% was the first change in Chile’s monetary policy rate since a 25-basis point hike way back in December 2015. The move follows an unexpected deceleration of CPI inflation to 2.7% last month from 2.9% in November. Chilean growth has been soft, and that’s no longer confined to the resource […] More

Central Bank of Chile

December 13, 2016

The central bank board left its key rate unchanged at 3.5% but signaled that “if the recent trends of the economic scenario persist, and so do their implications on the medium-term inflation outlook, it will be necessary to boost the monetary impulse.” According to a released statement, the peso has appreciated, growth is not expected […] More

Central Bank of Chile

October 19, 2016

Chile’s monetary policy rate was left unchanged at 3.5%, its level since hikes of 25 basis points implemented in September and December of 2015. A released statement observes that inflation has recently fallen faster than anticipated and that interest rates elsewhere are low. Growth was sluggish last quarter in Chilean output and demand, and the […] More

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