Monetary Policy Meeting (RPM)
Monetary Policy Meetings (MPM)
Monetary Policy Meetings are the decision-making instance in which the Board of the Central Bank of Chile sets the level of the Monetary Policy Rate. As of 2018, the number of meetings was reduced to 8 per year (previously 12).
Four of these meetings take place on the working day prior to the publication of the Monetary Policy Report, and on those occasions they last a day. The remaining four meetings last a day and a half. The Board drafts a statement, which is published at 6 p.m. of the day the Meeting takes place, and which informs of the decision taken, the reasons for it, and the vote of each Board Member, and provides guidance on the future trajectory of the Monetary Policy Rate. Eleven working days later, the Minutes of the Meeting are published, a document that reports the main discussions regarding the background information considered, the monetary policy options the Board deemed plausible, and the reasoning and rationale employed in deciding for one of them.
In September, the dates of Monetary Policy Meetings and of the publication of the Monetary Policy Reports and Financial Stability Reports for the next calendar year are announced.