Analysts expect Chilean cenbank to cut benchmark rate in early 2017

Wednesday, October 12, 2016

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%

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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%.