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Economists Predict Key Rate at 9.50% Next Meeting

CHILE

As well as predicting the key rate to rise to 9.50% at the next BCCh meeting, the 2022 year-end rate forecast was also raised to 9.50% vs 8.75% in last survey, according to the monthly economists survey from the Central Bank.

  • Key rate to drop to 7.50% in 11 months, and fall again to 5.00% in 23 months.
  • Peso to trade at 820 CLP/USD in 11 months, and 802.5 in 23 months.
  • GDP:
    • 2022 forecast raised to 1.7% vs 1.5% last survey
    • 2023 forecast lowered to 0.0% vs 0.5% last survey
    • 2024 forecast held at 2.0%
  • Consumer prices to rise 0.8% m/m in June
    • 2022 year-end inflation raised to 10.0% vs 8.9% last survey
    • 2023 year-end inflation raised to 4.6% vs 4.4% last survey (BBG)

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