Chile's central bank held its benchmark interest rate at a record low of 0.50% on October 15th 2020, as widely expected. Policymakers noted that domestic economic activity fell more than expected in August, as the Imacec contracted 11.3% on an annual basis, dragged mainly by mining, construction and services. The Committee underscored that inflation jumped to 3.1% in September from 2.4% in August, but said that inflationary pressures are expected to remain contained. Policymakers reiterated that they will maintain a strong monetary stimulus for an extended period to ensure that its objectives are achieved. The Committee foresees that it will hold the MPR at its minimum level over a big part of the two-year monetary policy horizon and will maintain the unconventional measures in place, thus continuing with the current asset purchase program. source: Banco Central de Chile
Interest Rate in Chile averaged 4.48 percent from 1995 until 2020, 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 October of 2020.
Interest Rate in Chile is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Chile to stand at 0.50 in 12 months time. In the long-term, the Chile Interest Rate is projected to trend around 0.50 percent in 2021 and 1.00 percent in 2022, according to our econometric models.