Chile’s financial operators project inflation to fall to 3.8% in one year

Chilean financial operators projected Wednesday that inflation in the South American country would fall to 3.8 percent in 12 months, compared to the 9.9 percent accumulated to date, informed the Chilean Central Bank.

The Survey of Financial Operators released this day by the monetary entity added that inflation in two more years will continue to fall to 3.2 percent.

Inflation in the southern nation registered a moderate monthly variation of 0.3 percent last April, as expected by market analysts, bringing the 12-month accumulated figure down to 9.9 percent, as reported by the National Statistics Institute of Chile at the beginning of this month.

Meanwhile, financial operators in their survey also concluded that the monetary policy interest rate, the mechanism used by the local Central Bank to control inflation, will remain at 11.25 percent in June.

However, they anticipated that as of July of this year, it would fall progressively to 8.75 percent in December 2023, 6.50 percent in June 2024, and 4.50 percent in June 2025.

Likewise, the dollar will remain at 800 Chilean pesos for another month.

The Financial Operators Survey is addressed to financial decision-makers representing the different industries of the local financial market and foreign entities actively operating in Chile.

Local agents include banks, pension fund administrators, insurance companies, stock brokers, mutual funds, savings and credit cooperatives, and other local agents.

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