Chile: Financial Sector Assessment Program—Detailed Assessment of Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies

October 21, 2004

Summary

This paper focuses on key findings of the Detailed Assessment of Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies on Chile. The assessment reveals a high degree of compliance with the Transparency Code, including in the objectives and responsibilities of the central bank. The target and instrument autonomy of the Central Bank of Chile is strong by virtue of being enshrined in the constitution. The process for monetary policy formulation, implementation, and communication is highly transparent.

Subject: Banking, Central bank legislation, Central banks, Currencies, Exchange rate arrangements, Exchange rate policy, Financial statements, Foreign exchange, Inflation targeting, Monetary policy, Monetary policy instruments, Money, Public financial management (PFM)

Keywords: BCCh Council, Central bank legislation, CR, Currencies, Exchange rate policy, Financial statements, government, ISCR, monetary policy, Monetary policy instruments, monetary policy objective, president of the republic, promissory notes

Pages:
27
Volume:
2004
DOI:
https://doi.org/10.5089/9781451807615.002
Issue:
326
Series:
Country Report No. 2004/326
Stock No:
1CHLEA0042004
ISBN:
9781451807615
ISSN:
1934-7685

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