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BCCh Board Member Nominee Griffith-Jones Says War May Accentuate Slowdown

CHILE
  • The candidate for the Council of the central bank stressed that local factors mainly explain the rise in the cost of living in the country and supported the rate hikes that the issuer has applied.
  • Griffith-Jones pointed out that the factors that have led to the increase in prices at the international level may be “accentuated” by the Russian invasion of Ukraine, whose economic implications “today are difficult to foresee”.
  • “But it is to be feared that it implies price increases for some important Chilean imports, particularly oil and also cereals. Eventually the conflict may even lead to a lower growth of the European economy, it may generate difficulties in the supply of energy. These factors could exert greater inflationary pressures on the Chilean economy, while depressing the growth of the economy somewhat this year”.
  • On the nomination – “It would be a privilege for me to complete my career in such an important position” and using the international experience they hope to “contribute valuable elements to the bank”. (DiarioFinanciero)
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