Tag: Chilean Central BankChilean Central Bank
The Chilean central bank raised its forecast for economic growth this year to between 4.75% and 5.25% (from 4% to 5%), adding that it expects GDP to expand 4% to 5% in 2013.
Chile is planning a 2013 budget with a tendency growth of 5% and an average long term basic copper price of 3.06 dollars the pound revealed finance minister Felipe Larraín together with Rosanna Costa, head of the Budget Office during a presentation before Congress.
Chile’s central bank kept its benchmark interest rate unchanged at 5% for a fifth consecutive month as inflation in the world’s top copper producer eased and unemployment continued to decline.
Chile’s central bank kept its key interest rate unchanged at 5% for a fourth consecutive month as surging domestic demand and deterioration in the global economy leave little scope to change monetary policy.
Consumer price inflation in Chile accelerated for the third straight month in October, data released by the National Institute of Statistics showed Tuesday.
Chile’s central bank and government have monetary and fiscal instruments to respond if growth moderates faster than forecast amid concern over the European debt crisis, bank board member Rodrigo Vergara said.
Chilean inflation rose 0.5% in September and the trade balance narrowed as falling copper output forced the first monthly year-on-year fall in exports in over two years.
Chile’s peso posted its biggest monthly drop since Lehman Brothers Holdings Inc. collapsed as a slump in copper dimmed trade prospects for the metal’s biggest producer. The peso sank 1.3% to 519.75 per US dollar on Friday.
Chile’s central bank kept its benchmark interest rate unchanged this week for the third straight month and indicated that a tight labor market may prevent it from following Brazil and cutting rates next month.
The Chilean central bank held its benchmark rate steady at 5.25% on Thursday for a second month running as inflation expectations ease and the global outlook darkens, boosting bets it has ended its rate hike cycle early.