On February 11, the Central Bank of Chile (BCCh) published the new version of the document establishing its monetary policy framework, replacing the text in force since 2007 and incorporating all the changes in the decision-making process that have occurred since then. Although the concrete application of the general framework of monetary policy has been subject to variations in the last few years, there have been no major changes.
The BCCh structures its monetary policy within a conceptual framework of inflation targets, complemented by a floating exchange rate regime. This scheme includes a commitment to use the instruments granted by law to ensure that projected inflation over a two-year horizon is at 3%.
The publication of the document is part of the 2018-2022 Strategic Plan and also strengthens the communication of the Bank’s monetary policy.