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Analysts consulted by Chile's central bank in its monthly expectations survey for October predict there will be a 25 basis-point reduction in the benchmark interest rate to 3.25% in the first two months of 2017. In the September survey the analysts expected the rate to remain at 3.50% until the end of 2017.
The analysts surveyed also raised their GDP growth projection for 2016 to 1.7% from 1.6%, while for 2017 the forecast remained at 2.0%
Perspectives for inflation also improved in the October survey as analysts now project 3.2% inflation for 2016, down from 3.4% in the previous survey. The inflation forecast for October was maintained at 0.3%.