CHILE: Analysts Keep Inflation Estimates Unchanged In Central Bank Survey

Financial directors from Chilean firms kept their estimates for the inflation in the next 12 months at 2.60%, according to a central bank survey. The forecast for the annual inflation rate 24 months from now also remained unchanged at 2.80%. The inflation target in Chile is currently at 3% per year.

The annual inflation in Chile hit 1.7% in July, remaining at the lowest reading since October 2013. It was the tenth consecutive month in which inflation was lower than the official target. Even so, the Chilean central bank kept the country’s benchmark interest rate unchanged at 2.50% per year for the second month in a row – a widely expected decision.

Financial directors said in the most recent central bank survey that they expect the benchmark interest rate to remain unchanged at 2.50% in August and in the next 12 months, but forecast a 0.50 percentage point raise in the next 24 months.

The material has been provided by InstaForex Company – www.instaforex.com

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