Central Bank Chile

Central bank Chile was created in 1925, to act as the highest authority for the monetary and financial system.

As the highest monetary authority, the Chile's central bank has the mission of seeking to keep inflation low and stable, translating to price stability over time.

In terms of this objective, the Central Bank has, since 2007 (at least up to the time of writing this (February 2009)), had the objective to maintain annual inflation of the consumer price index (CPI) around 3% most of the time, with a tolerance range of plus or minus one percentage point.

As for stability of the country's currency, the Peso, since 1999, the country has adopted a free-floating regime.

Today, the Central Bank’s sole commitment is to maintain inflation within the target range.

However, according to the central bank's published material, the forex flexibility, however, does not mean that the Bank cannot intervene in the market under exceptional circumstances.

In terms of the Chilean financial market, the Central Bank is the economy’s lender of last resort and provides liquidity to financial entities that have temporary cash flow difficulties.

For researchers and financial analysts, the central bank is source of information, as it also provides statistical functions.

The Central Bank has a mandate to publish the main national macroeconomic figures, including those of a monetary and foreign exchange nature, the balance of payments and national accounts.

Many of the statistics and other information on the country's financial health can be accessed through the bank's official website at www.bcentral.cl/eng/index.htm.


From Central bank Chile page to Forex Guide index