 In practice, the CBoC monetary policy is guided by an inflation targeting regime, while the foreign exchange policy is led by a floating exchange rate and, although unusual, the bank reserves the right to intervene in the foreign exchange markets.Chile is strongly committed to free trade and has welcomed large amounts of foreign investment.Chile has signed free trade agreements (FTAs) with a whole network of countries, including an FTA with the United States that was signed in 2003 and implemented in January 2004.