Chile's central bank held its benchmark interest rate unchanged at 0.50 percent after lowering it by 50 bps on 31 March and a 75-bps emergency cut on 16 March, holding borrowing costs at the lowest level on record and matching expectations. Policymakers noted that the economic contraction has started and that its effect is particularly acute in retail, education, transporte, restaurants and hotels. On the other hand, they underscored that financial markets stabilized in April after high volatility in the previous month. The unanimous decision came after a decline in annual inflation, which eased to 3.7 percent in March after hitting 3.9 percent in February.
Interest Rate in Chile averaged 4.52 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 May of 2020. source: Banco Central de Chile
Interest Rate in Chile is expected to be 0.25 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 0.25 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.