Chilean monetary policy

Central Bank of Chile Reduces Key Interest Rate Again

September 12, 2014

There previously had been cuts in the overnight Chilean central bank interest rate of 25 basis points administered in October and November of 2013 plus February, March, July and August of this year.  Yesterday’s cut was also by 25 basis points and puts the benchmark now at 3.25%.  The move was expected and indeed implied […] More

Central Bank of Chile Eases

February 19, 2014

Chile’s policy interest rate has been reduced by 25 basis points for the third time in five months, and the forward guidance retains an easing bias:  “The Board estimates that in the coming months it might be necessary to increase the monetary stimulus to ensure that projected inflation will stand at 3% in the policy […] More

Chilean Central Bank Rate Left at 5%

August 14, 2013

The central bank board left the monetary policy interest rate at 5.0%, its level since a sole 25-basis point cut in January 2012.  Previously, the rate was raised 475 basis points in a dozen moves between June 2010 and June 2011 after having been cut by 775 bps to 0.5% during the first seven months […] More

Chilean Monetary Policy Still on Hold

August 16, 2012

The Central Bank of Chile’s Policy Board kept its monetary policy rate at 5.0% as expected.  It has been at that level since a solitary 25-basis point cut in mid-January, which was a pre-emptive action taken in response to intensifying global risks caused by the European crisis.  A statement released today observed some lessening of […] More

Central Bank of Chile: No Changes Made

June 15, 2012

As officials did in the prior four monthly meetings, the monetary policy interest rate in Chile was left at 5.0%.  The decision was accompanied by a statement that noted At-trend growth in output and demand. Tight labor markets. Acceptable inflation that in fact eased last month. Expected inflation that’s consistent with the target. Intensifying financial […] More