Central Bank of Chile: No Rate Change

June 11, 2015

The monetary policy interest rate, which has been 3.0% since a 25-basis point cut last October, will remain at that level, according to a released statement following this month’s meeting.  Inflation is projected to remain above target “for some months” but eventually fall to the 3.0% target.  Medium-term inflation expectations are at the target, wage inflation is low, and data since the last meeting are consistent with assumptions in the last Monetary Policy Report.  The policy rate was cut by 25 bps in 2012, 50 bps in 2013, and 150 basis points last year.

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