Chile

Roughly neutral

Policy rate

4.50%

Last move Dec 2025

Inflation

4.21%

As of null

Real policy rate

0.29%

Policy rate less inflation

Debt to GDP

42.50%

2026 est.

Inflation target3%

Policy rate vs target+1.5 pp

Last move-25 bps cut

Months at current rate9

Real GDP growth2.40%

Next scheduled decisionNot published

Policy rate path, latest five years. Cycle peak 14.00% (Sep 1998).

The verdict

Chile sets its policy rate at 4.50%, against inflation of 4.21% — a real rate of 0.29% after inflation. The most recent decision was a 25bp cut in Dec 2025. The rate has held there for about 9 months. The bank targets 3% inflation, and prices are running above that at 4.21%; the policy rate stands 1.50 percentage points above target. On the fiscal side, the economy carries government debt of 42.5% of GDP (2026 est.) and real GDP growth of 2.4%.

Sources: policy rate and cycle history — BIS central bank policy rates (WS_CBPOL); inflation — national statistical agencies; debt and growth — IMF World Economic Outlook. Methodology: https://www.globalfinancialinfo.info/methodology/policy-rates · Dataset: https://www.globalfinancialinfo.info/global-economy · Free to print and share for non-commercial classroom use (CC BY-NC-ND 4.0).

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