Strategic Planning


Strategic Plan of the Central Bank of Chile for the period 2023-2027
“Our mandate, our commitment”

  • The Governor’s message

  • Values

  • Strategic Plan

  • Previous Strategic Plans

  • Downloadable documents

Since 2004, the Central Bank of Chile has been developing a roadmap for each new governor’s term in the Board. This strategic planning process allows setting objectives and tasks for the entire organization to be carried out over a five-year period, always with the primary goal of fulfilling the mandate established in its Constitutional Organic Law (LOC).

The Plan includes the definitions of the mission, vision and values of the Central Bank of Chile, from which objectives, strategic focuses, and initiatives are derived that the institution aims to achieve during the period from 2023 to 2027.

The current Strategic Plan, entitled “Our mandate, our commitment,” is the result of extensive internal co-creation work, which also includes significant contributions from external stakeholders from various regions of the country.

The Central Bank of Chile’s roadmap for the five-year period began in 2023 and is continuously evaluated and monitored.
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The Governor´s message

 

During 2022, our organization focused on developing the new Strategic Plan for the 2023-2027 period, with extensive staff participation, under a co-creation model that included several sessions of proposals and idea exchanges in various instances within the Bank. As done previously, it also considered external reference groups, especially incorporating the perceptions of actors across the country’s regions.

Our vision, that is, how do we want to be seen and perceived, does not change. We strive every day to be a reliable public institution, aware that credibility is our main asset. Additionally, it involves strictly maintaining our technical nature and ensuring that the fulfillment of our constitutional mandate and objectives is achieved with excellence.

The 2023-2027 Strategic Plan “Our mandate, our commitment” is a roadmap that aims to guide the management of the Central Bank with the distinctive mark of a public institution that contributes to the country’s development and the well-being of its inhabitants. Our challenge is to respond to the trust that the public has placed in us.
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Values

These values determine our daily actions, establishing that we are committed to our mission. They are commitment; excellence; probity and transparency; and respect and diversity.

 

Commitment

We are committed to Chile and its people, as well as to the members of our team, all of whom fulfill an important mission for the country.

Probity and Transparency

We act with rectitude, honesty, integrity, and transparency in fulfilling our role of serving the country.

Excellence

We work with excellence, promoting collaboration, continuously improving our processes, and incorporating innovation to adapt to new challenges.

Respect and Diversity

Respect is essential in our actions, with a broad and inclusive perspective. We respect individuals’ uniqueness, diversity and our environment.
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Strategic Plan

Strategic planning in organizations consists of various elements that respond to questions such as: What do we wish for our future? How will we fully achieve our mission by 2027? And how will the Bank adapt to future challenges?

Our strategic definitions communicate to society and our institution who we are and, therefore, must be updated and aligned with society and the environment.

The 2023-2027 Strategic Plan is organized around four strategic focuses that will support the fulfillment of our mission.

Mission: The mission of the Central Bank of Chile is to safeguard price-level and financial stability, thereby contributing to the well-being of society and the development of the country.

Vision: The vision of the Central Bank of Chile is to be a reliable public institution, with technical expertise and excellence in fulfilling its mandate and achieving its objectives.

Values: Commitment – Excellence – Probity and Transparency – Respect and Diversity.

Strategic Focuses:

  • Strengthening the cutting-edge nature of monetary and financial policies.
  • Promoting integration and efficiency as a distinctive feature of the organization.
  • Enhancing the development of people within the Bank.
  • Strengthening commitment and connection with the public.

 

For more information about the strategic focuses, hover over the icons in the infographic.

MISIÓN To ensure financial stability and the control of inflation, thereby contributing to the well-being of society and the development of the country.

VISIÓN To be known as a reliable public organization, pursuing technical expertise and excellence in fulfilling its mandate and achieving its objectives.

VALORES: Commitment, Probity and Transparency, Excellence, Respect and Diversity.

Strategic Objectives 2027

Maintaining annual inflation around the target of 3% most of the time

Preserving the efficient and secure functioning of financial systems.

Contributing to the development of efficient and inclusive payment systems.

Providing statistics that support decision-making in the economic and financial fields.

Being known as an institution committed to the community.

Strategic Focuses

Strengthening the cutting-edge nature of monetary and financial policies.

Promoting integration and efficiency as a distinctive feature of the organization.

Enhancing the development of people within the Bank.

Strengthening commitment and connection with society.
  • SUSTAINABILITY
  • DIGITALIZATION AND DIGITAL TRANSFORMATION
  • CHANGES IN THE ECONOMIC, POLITICAL, AND SOCIAL ENVIRONMENT
  • NEW BUSINESS MODELS
  • NEW WAYS OF WORKING AND NEW CAPABILITIES
GLOBAL TRENDS
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Previous Strategic Plans

This section aims to report on the fulfillment and results of the various past strategic plans of the Central Bank of Chile.

The following document corresponds to the 2018-2022 Strategic Plan of the Central Bank of Chile, which was developed and launched under Governor Mario Marcel and, in its final phase, it was handed over to incoming Governor Rosanna Costa.

The development of this plan always counted on the effort and commitment of all members of this organization, driven by the purpose of fulfilling the institutional mission for the stability of the currency and the normal functioning of internal and external payments, which is the best contribution the Bank can make to the well-being of society.

This Strategic Plan achieved total fulfillment, in both its focuses and initiatives, including those introduced as a result of significant changes in the external and internal environment that imposed new challenges on the Bank.

 

To obtain more information about the strategic focuses, click on the text boxes.

FOCUS 1: Strengthening the Bank’s Responsiveness and Intellectual Leadership

  • Incorporation of the use of Microdata
  • Development of the General Equilibrium Model with Financial Frictions (MaFin)
  • Publication of the document “Financial Policy of the Central Bank of Chile”
  • First Financial Policy Meeting held in 2022
  • Implementation of regulations for Payment Card Operators
  • Publication of the Standards for Access to and Use of Microdata by third parties

FOCUS 2: Strengthening the Bank’s Responsiveness and Intellectual Leadership

  • Implementation of a policy for the disclosure of historical minutes of the Bank’s board meetings, as well as its Executive Committees and Board members.
  • Modernization of the website and incorporation of new corporate communication platforms, adding new graphic tools that have enhanced communication through social media.
  • Creation of the platform called “Contacto Central” to channel and manage various inquiries to the Bank.
  • The Institutional Transparency Policy published in 2021 positioned the Central Bank of Chile at the forefront of central banking in this area.
  • Creation of the financial education program “Central en tu Vida”, an initiative that has played a key role in bringing content related to the Bank’s role and activities closer to the public.

FOCUS 3: Strengthening the Bank’s Corporate Governance

  • The Board defined and approved a Sustainability Strategy and Policy for the Bank, which outlines four dimensions, namely: climate change adaptation, citizens’ financial responsibility, circular economy, and the Bank as an agent of change.
  • The institutional management from 2019 to 2021 was documented in Integrated Annual Reports, prepared under GRI (Global Reporting Initiative) standards and the International IR (Integrated Reporting) Framework.
  • The Bank implemented the “New Way of Working” project, which includes a hybrid work format for its employees (combination of remote and in-person work).
  • The protection of the Bank’s information was further strengthened through a new confidentiality labeling system.

FOCUS 4: Improving the Ability to Understand, Manage, and Incorporate Technological Changes

  • A Technology Observatory was created and developed, aimed at capturing and disseminating new knowledge on disruptive technologies within the Bank.
  • The Central Bank collaborated with the Ministry of Finance in drafting the Fintech Law project, which was discussed and approved in the National Congress.
  • A new Chapter of the Compendium of Financial Regulations for the Low-Value Payment Clearinghouse was developed and implemented.
  • Publication in 2022 of the first report with a preliminary assessment on the issuance of a Central Bank digital currency in Chile.

FOCUS 5: Being an Employer of Excellence

  • Initiatives were undertaken to enhance the talents within the Bank, promoting development and learning. Topics included collaboration and connection; diversity and gender equity; and ethics. The Bank strengthened the presence of women at all levels and areas through a mentorship program for professional women.
  • The Bank strengthened the presence of women at all levels and areas through a mentorship program for professional women.
  • The Diversity, Inclusion, and Gender Equity program included several initiatives. One of them was the Internship Program, which had 50% women participation and aimed at attracting young talent to add diversity to the Bank’s staff.
  • The Bank participated in the Great Place to Work (GPTW) ranking, earning a position among the top 10 best places to work for in Chile between 2020 and 2021, and among the top five best places to work for women in Chile.
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Downloadable documents
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