Monetary policy of Chile
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The Monetary policy of Chile is the framework and actions through which Chile’s central bank manages interest rates and liquidity to maintain low and stable inflation while supporting sustainable economic growth.
Observed surface forms (1)
| Surface form | Occurrences |
|---|---|
| Monetary Policy Meeting of the Central Bank of Chile | 1 |
Statements (45)
| Predicate | Object |
|---|---|
| instanceOf | monetary policy ⓘ |
| aimsTo |
maintain low and stable inflation
ⓘ
support sustainable economic growth ⓘ |
| communicationTool |
Monetary Policy Report
NERFINISHED
ⓘ
minutes of monetary policy meetings ⓘ press releases ⓘ speeches by Central Bank authorities ⓘ |
| considers |
external economic conditions
ⓘ
financial stability risks ⓘ inflation expectations ⓘ output gap ⓘ |
| coordinationWith |
fiscal policy in Chile
ⓘ
macroprudential policy in Chile ⓘ |
| country | Chile ⓘ |
| decisionFrequency | regularly scheduled monetary policy meetings ⓘ |
| exchangeRateRegimeContext | floating exchange rate ⓘ |
| frameworkType | inflation targeting regime ⓘ |
| historicalShift |
adoption of explicit inflation targeting in the 1990s
ⓘ
transition from exchange-rate-based nominal anchors to inflation targeting ⓘ |
| implementedBy | Central Bank of Chile Board NERFINISHED ⓘ |
| inflationTarget | 3 percent annual inflation ⓘ |
| inflationTargetBand | plus or minus 1 percentage point ⓘ |
| institutionalFeature |
operational independence of the Central Bank of Chile
ⓘ
prohibition on direct central bank financing of the government ⓘ |
| keyPolicyRateAbbreviation | TPM ⓘ |
| keyPolicyRateName | Monetary Policy Rate ⓘ |
| legalBasis |
Constitution of Chile
NERFINISHED
ⓘ
Organic Constitutional Law of the Central Bank of Chile NERFINISHED ⓘ |
| managedBy | Central Bank of Chile NERFINISHED ⓘ |
| monitoredVariable |
consumer price index
ⓘ
core inflation ⓘ credit growth ⓘ exchange rate ⓘ labor market conditions ⓘ |
| operationalTarget | short-term money market interest rates ⓘ |
| policyApproach |
data-dependent
ⓘ
forward-looking ⓘ |
| primaryObjective | price stability ⓘ |
| secondaryObjective |
financial stability support
ⓘ
normal functioning of internal and external payments ⓘ |
| timeHorizonForTarget | medium term ⓘ |
| usesInstrument |
liquidity management operations
ⓘ
open market operations ⓘ policy interest rate ⓘ reserve requirements ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.