Chilean economy enters adjustment mode and Central Bank forecasts weak growth for 2022-2023

The Central Bank's scenario considers that private consumption will fall 0.2% in 2022 and 1.5% in 2023, years in which money transfers from the Treasury to households will not be replicated in the magnitudes of 2021, in combination with an interest rate that will increase to discourage spending.

RIO DE JANEIRO, BRAZIL - A note of high moderation was injected yesterday by the Monetary Policy Report (IPoM) presented by the Central Bank to the Senate, which showed that in two years, Chile will go from an economy that would grow around 12% in 2021, to one that could register a null expansion in 2023.

First, as expected, the institution raised the outlook for this year's Gross Domestic Product (GDP) expansion from the 10.5%-11.5% range in September to 11.5%/12.5%.

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