The Central Bank of Chile was founded on August 22, 1925, its structure shaped by advice from Princeton economist Edwin Kemmerer following concerns about payment control and persistent inflation among the private banks that had emerged in mid-nineteenth-century Chile. Headquartered at Agustinas 1180 in Santiago, its Basic Constitutional Act charges it with safeguarding the stability of the currency and the normal functioning of internal and external payments, which requires controlling inflation while ensuring functional financial intermediation, payment services, and adequate risk allocation.
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