Chile - Lending Rate





Chile: Lending Rate

Mnemonic IRLEND.ICHL
Unit Percent, NSA
Adjustments Not Seasonally Adjusted
Daily
Data 19 Nov 2018 2.75
18 Nov 2018 2.75

Series Information

Source Central Bank of Chile
Release Monetary Policy
Frequency Business Daily
Start Date 8/9/2001
End Date 11/19/2018

Chile: Markets

Reference Last Previous Units Frequency
Lending Rate 19 Nov 2018 2.75 2.75 Percent, NSA Daily
Stock Market Index 16 Nov 2018 18,980 18,938 Index, NSA Business Daily
Money Market Rate Jul 2018 2.49 2.5 % p.a., NSA Monthly

Release Information

The Central Bank of Chile reports an annual monetary policy rates (target interbank rate) that is updated each month. There are scheduled monthly meetings to discuss possible adjustments to the rate. The primary objective of monetary policy is to stabilize prices. Figures are percentages and are not seasonally adjusted (NSA).

The rate is adjusted according to inflation targeting and flotation schemes. The scheme is used to keep the annual inflation of the IPC around 3% with a tolerance range of plus/minus one percentage point. Monetary policy has a countercyclical nature that reduces inflation volatility.

Having an inflation target still has short-term effects on the economy. The inflation target is defined for 12-month variation of the Consumer Price Index (IPC) by the National Institute of Statistics (INE). 

Monetary policy decisions are made by the BCC Council. The schedule of meetings is announced 6 months in advanced. There may be Extraordinary meetings that are unannounced. 

There are two main reasons for changing the monetary policy rate:

  1. Projected inflation is away from the inflation target.
  2. Validation of an expected trajectory if there are no developments since the previous meeting. 

Data is not subject to past revisions.

For more information, please visit: http://www.bcentral.cl