Mario Marcel: The Monetary Policy Report and the Financial Stability Report

Presentation by Mr Mario Marcel, Governor of the Central Bank of Chile, before the Finance Committee of the Honorable Senate of the Republic, Santiago de Chile, 4 December 2017.

Mr. President of the Finance Committee of the Senate, senator Carlos Montes, senators members of this Committee, ladies, gentlemen,

Thank you for your invitation to present the vision of the Board of the Central Bank of Chile (CBC) about the latest macroeconomic and financial developments, prospects and implications for monetary and financial policy. This vision is detailed in our Monetary Policy Report (MP Report) of December 2017 and Financial Stability Report (FSR) of the second half 2017.

I would like to start by noting that these are the last institutional reports presented in the format that has prevailed since the time of the severe Great Financial Crisis. As we explained to the Honorable Senate last September, as from January 1st, the CBC will begin to apply a new calendar and format for the Monetary Policy Meetings as well as for the presentation of our two Reports.