Monetary Policy Rate in Chile

Banco Central de Chile · Per meeting (8 per year) · Importance 100

4.50% (Dec-25) ABS · % · Mensual · CSV

About this indicator

Source	Central Bank of Chile (BCCh)
Frequency	Per meeting (8 per year)
Release	Tras cada Reunion de Politica Monetaria (RPM), 18:00 hora de Chile
What it is	The Monetary Policy Rate (TPM) is the benchmark interest rate set by the Board of the Central Bank of Chile to steer the cost of credit in the economy and anchor inflation at its 3% target.
How it's calculated	It is not a statistic: the Board sets it at the Monetary Policy Meetings (RPM), eight a year on a published calendar, guided by inflation and the cycle. The rate serves as the benchmark for overnight money-market operations.
Market implications	Hikes raise borrowing costs and tend to slow activity and inflation; cuts cheapen credit and support consumption and investment. It is the key gauge of Chile's monetary stance and moves the Chilean peso (CLP).
Limitations	It is a discretionary Board decision that changes only on meeting dates, and its effect on the real economy works with lags of several quarters.