Chile cuts monetary policy interest rate to 6.5%

Unanimous decision comes in wake of economic upturn

Central Bank of Chile
Photo: Central Bank of Chile/Flickr

The Central Bank of Chile (BCCh) cut its monetary policy rate for the fifth consecutive time on April 2, reducing it by 75 basis points to 6.5%.

Inflation was 5% year on year in October 2023, decreasing to 3.8% by January 2024 and returning to 4.5% by the end of February.

The monetary policy rate reached a recent high of 11.25% in October 2022, and the central bank began cutting rates in July 2023. Since then, it has cut rates by 475 basis points.

The five-member board made the decision

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account