Chile Central Bank Transparency Code Review
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| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 108 |
| Release | : 2021-06-16 |
| Genre | : Business & Economics |
| ISBN | : 1513573225 |
The Central Bank of Chile (CBC) has implemented broadly advanced transparency practices. This reflects the CBC’s strong public commitment to transparency, which is anchored in the law and has been designated by the CBC as a strategic objective to fulfill its mandate. This policy has earned the CBC the broad trust of its stakeholders and has paid significant dividends for the CBC in terms of safeguarding its autonomy and ensuring its policy effectiveness.
| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 32 |
| Release | : 2023-03-15 |
| Genre | : Business & Economics |
| ISBN | : |
This paper reports to the Executive Board on the outcomes of the Central Bank Transparency Code (CBT) pilot reviews. The pilot CBT reviews helped central banks evaluate their transparency practices and strengthen dialogue with external stakeholders. The CBT pilots provided valuable information on the resources required for the reviews going forward. Staff will continue to offer CBT reviews to the rest of the membership. The staff will report back to the Board in FY2026 on the progress of the CBT reviews and an update to the Code following five years of implementation.
| Author | : John Hooley |
| Publisher | : International Monetary Fund |
| Total Pages | : 27 |
| Release | : 2023-06-02 |
| Genre | : Business & Economics |
| ISBN | : |
This paper presents case studies of central bank crisis interventions during the Covid-19 and the Global Financial Crises in four jurisdictions (Canada, Chile, the United Kingdom, and the United States). The paper serves as an Annex to the main IMF Working Paper WP/23/114 ‘Quasi-Fiscal Implications of Central Bank Crisis Interventions.’
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 78 |
| Release | : 2021-04-23 |
| Genre | : Business & Economics |
| ISBN | : 151357289X |
The Chilean economy has been hit by the pandemic while recovering from the social unrest in late 2019, requiring substantial adjustment of economic policies and the appropriate use of existing policy buffers. Following a sharp decline in mid-2020, economic activity started recovering in 2020H2 in the wake of ample policy stimulus. Inflation remains near the policy target, with inflation expectations anchored, and the current account balance has improved amid a sharp drop in imports and relatively resilient exports. Fiscal and monetary policies remain guided by the structural fiscal balance rule and the inflation-targeting framework, respectively. Beyond the pandemic-related risks, there is uncertainty stemming from a series of elections and the outcome of a New Constitution process—scheduled to finish in mid-2022—which are expected to shape the public discourse and influence the policy agenda.
| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 48 |
| Release | : 2019-05-13 |
| Genre | : Business & Economics |
| ISBN | : 1498314503 |
The paper responds to a request made by the Executive Board at the time of the 2017 Review of the Standards and Codes Initiative (RSCI) for a revision and update of the 1999 Monetary and Financial Policies Transparency Code (MFPT). Directors asked staff that the new code remove the overlap on financial policies covered by other standards, expand the transparency standards to broader set of activities undertaken by many central banks since the Global Financial Crisis, and reorient the transparency standards to facilitate risk-based assessments to support policy effectiveness and address macroeconomic risks.
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 47 |
| Release | : 2021-05-21 |
| Genre | : Business & Economics |
| ISBN | : 1513572989 |
The pandemic hit the Chilean economy while it was recovering from the 2019 social unrest. The authorities’ swift and strong economic policy efforts and Chile’s very strong institutional frameworks helped buffer the economic and social consequences. The ongoing economic recovery continues to be supported by ample policy stimulus, a rapid vaccination process, well-anchored inflation expectations, a resilient export base, and continued market confidence.
| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : INTERNATIONAL MONETARY FUND |
| Total Pages | : 132 |
| Release | : 2020-07-30 |
| Genre | : Business & Economics |
| ISBN | : 9781513551814 |
The paper reports to the Executive Board on its decision of April 29, 2019, to prepare an IMF Central Bank Transparency Code (CBT), which is linked to the 2017 Review of the Standards and Codes Initiative (RSCI), for a revision and update of the 1999 Monetary and Financial Policies Transparency Code (MFPT). Directors asked that the CBT should remove the overlap on financial policies covered by other international standards, expand the transparency standards to broader set of activities undertaken by many central banks since the 2008 financial crisis, and reorient the transparency standards to facilitate risk-based assessments to support policy effectiveness and address macroeconomic risks.
| Author | : Rania A. Al-Mashat |
| Publisher | : International Monetary Fund |
| Total Pages | : 72 |
| Release | : 2018-10-01 |
| Genre | : Business & Economics |
| ISBN | : 1484379535 |
This paper develops a new central bank transparency index for inflation-targeting central banks (CBT-IT index). It applies the CBT-IT index to the Czech National Bank (CNB), one of the most transparent inflation-targeting central banks. The CNB has invested heavily in developing a Forecasting and Policy Analysis System (FPAS) to implement a full-fledged inflation-forecast-targeting (IFT) regime. The components of CBT-IT index include measures of transparency about monetary policy objectives, the FPAS designed to support IFT, and the monetary policymaking process. For the CNB, all three components have shown substantial improvements over time but a few gaps remain. The CNB is currently working on eliminating some of these gaps.
| Author | : International Monetary Fund. Asia and Pacific Dept |
| Publisher | : International Monetary Fund |
| Total Pages | : 88 |
| Release | : 2024-05-14 |
| Genre | : Business & Economics |
| ISBN | : |
The New Zealand economy slowed considerably in 2023, following a period of strong growth, and some previous significant imbalances are finally correcting. Tight monetary policy has put inflation on a meaningful downward path but remains high. Some of the overvaluation in housing prices has also reversed. The external balance is slowly improving, though the current account deficit is still large. An ambitious agenda of broad-based reforms is underway by the new coalition government.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 104 |
| Release | : 2024-05-17 |
| Genre | : |
| ISBN | : 9264526242 |
Lobbying and influence activities are legitimate acts of democratic participation and enable different groups to provide input and expertise to the policymaking process. This report looks at Chile’s existing framework to ensure equity, integrity and transparency in public decision-making processes, and assesses its resilience to the risks of undue influence by special interest groups.
