The Central Bank of Chile kept its benchmark interest rate on hold at 11.25% in its January meeting, as expected, by keeping borrowing costs at the highest since November 1998. The board noted that world inflation has declined, mainly due to a reduction in energy prices. Still, it is high and inflationary pressures remain significant. Also, the annual inflation stood at 12.8% in December, the highest level since 1991, while showing a slowdown in December compared to the previous month. The board said, "Inflation remains very high and its convergence to the 3% target is still subject to risks," as such they maintain the rate until convergence to the target interest rate has been consolidated. source: Banco Central de Chile

Interest Rate in Chile averaged 4.47 percent from 1995 until 2023, reaching an all time high of 14 percent in September of 1998 and a record low of 0.50 percent in July of 2009. This page provides - Chile Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Chile Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.

Interest Rate in Chile is expected to be 11.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Chile Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-10-12 09:00 PM Interest Rate Decision 11.25% 10.75% 11.25% 11.25%
2022-12-06 09:00 PM Interest Rate Decision 11.25% 11.25% 11.25% 11.25%
2023-01-26 09:00 PM Interest Rate Decision 11.25% 11.25% 11.25% 11.25%
2023-02-10 11:30 AM Monetary Policy Meeting Minutes
2023-04-04 10:00 PM Interest Rate Decision
2023-04-20 12:30 PM Monetary Policy Meeting Minutes


Related Last Previous Unit Reference
Interest Rate 11.25 11.25 percent Jan 2023
Banks Balance Sheet 191146.00 189551.00 CLP Million Nov 2022
Central Bank Balance Sheet 55705.00 58401.00 CLP Million Dec 2022

Chile Interest Rate
In Chile, interest rate decisions are taken by The Central Bank of Chile (Banco Central de Chile). The official interest rate is monetary policy interest rate (PDBC Pagarés Descontables del Banco Central) which is overnight interbank interest rate.
Actual Previous Highest Lowest Dates Unit Frequency
11.25 11.25 14.00 0.50 1995 - 2023 percent Daily

News Stream
Chile Holds Key Interest Rate at 11.25%
The Central Bank of Chile kept its benchmark interest rate on hold at 11.25% in its January meeting, as expected, by keeping borrowing costs at the highest since November 1998. The board noted that world inflation has declined, mainly due to a reduction in energy prices. Still, it is high and inflationary pressures remain significant. Also, the annual inflation stood at 12.8% in December, the highest level since 1991, while showing a slowdown in December compared to the previous month. The board said, "Inflation remains very high and its convergence to the 3% target is still subject to risks," as such they maintain the rate until convergence to the target interest rate has been consolidated.
2023-01-26
Chile Holds Key Interest Rate at 11.25%
The Central Bank of Chile held its benchmark interest rate steady at 11.25% in its December meeting, meeting market expectations and keeping borrowing costs at the highest since November 1998. The committee noted that rates peaked in the current hiking cycle, which began in July 2021. The annual inflation rate in Chile eased to 12.8 percent in October of 2022 from 13.7 percent in the previous month.
2022-12-06
Chile Raises Rates by 50bps to 11.25%
The Central Bank of Chile hiked its benchmark interest rate by 50bps to 11.25% in its October meeting, meeting market expectations and bringing borrowing costs to the highest since November 1998. The latest move extends the central bank’s tightening cycle to 10.75 percentage points since its start in July 2021, nearing its maximum level considered in the central scenario in the September quarterly report. In September, the annual inflation rate in Chile eased to 13.7% easing from the August high. Still, energy costs remain extremely high, and the Chilean peso has reached record lows. Looking ahead, the Board said it would remain especially attentive to the upward risks for inflation, both due to the high level it has reached and the fact that two-year-term inflation expectations remain above 3%.
2022-10-12