Celebrating a Century of Data: The Central Bank of Chile's Vision for the Future

This year marks a milestone for the Central Bank of Chile, as it hosts the Sixth Statistics Conference amid the celebration of its 100th anniversary. The event highlights the profound connection between the evolution of economic statistics and the country's journey toward progress and stability, emphasizing how robust data has played a foundational role in navigating complex economic times.

In her opening remarks, Governor Rosanna Costa outlined the central bank’s history, tracing its origins to a period marked by economic turbulence and the subsequent drive for stability that culminated in its creation in 1925. From the earliest debates about establishing a central authority, statistics have been integral to the bank’s ability to support macroeconomic stability. Over the decades, as Chile faced global shocks such as the Great Depression and World War II, and later underwent economic liberalization and technological change, the bank continually advanced its statistical capabilities. Key milestones include the introduction of comprehensive national accounts, the development of leading economic indicators like the Monthly Index of Economic Activity (IMACEC), and improvements in transparency and frequency of financial data during critical periods such as the debt crisis of the 1980s and the global financial crisis of 2008.

Over the past century, the Central Bank has met growing demands for high-quality, timely, and granular data by embracing technological innovation and adopting international best practices. Recent developments include the use of microdata, the implementation of data repositories for financial market oversight, and measures to ensure the accessibility and transparency of statistics through digital platforms and applications. As the bank integrates tools like artificial intelligence and responds to new challenges in data privacy and ethics, it continues to expand its focus—now encompassing household, environmental, and regional accounts, as well as fostering academic collaboration through open data initiatives.

Looking ahead, the bank envisions a future where real-time data, advanced analytics, and innovative data sources significantly enhance economic insight and policy-making. However, this vision comes with the imperative to uphold rigorous standards of transparency, privacy, and public trust. The conference serves as a platform to reflect on these achievements, explore emerging technologies, and discuss the role of AI in economic analysis and communication, while stressing the ethical responsibilities that come with increased data power.

The significance of this centennial celebration is profound: it not only honors the foundational work of the past but also reinforces the bank’s commitment to data-driven policy and public welfare in the decades to come. As the digital revolution accelerates, the continued evolution of statistics promises to be both a catalyst for prosperity and a safeguard of macroeconomic stability in Chile and beyond.