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Economists Forecast Another 75BP Hike At September Meeting

CHILE
  • In the midst of the US inflation data the latest BCCh survey of economists was released:
    • Economists See Key Rate Rising to 10.50% Next Meeting
    • 2022 year-end rate forecast raised to 11.00% vs 10.00% last survey
    • Key rate to drop to 8.50% in 11 months, and fall again to 5.50% in 23 months
    • Peso to trade at 870 CLP/USD in 11 months, and 850 in 23 months
  • GDP Details:
    • 2022 forecast raised to 1.9% vs 1.8% last survey
    • 2023 forecast lowered to -0.4% vs 0.0% last survey
    • 2024 forecast held at 2.0%
  • Consumer prices:
    • Expected to rise 1.0% m/m in August
    • 2022 year-end inflation raised to 12.3% vs 11.0% last survey
    • 2023 year-end inflation raised to 5.5% vs 5.1% last survey (BBG)

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