Thursday, February 10, 2011
Chile cenbank to up rate by 25 bps in February, according to poll
Chile's central bank is seen raising its benchmark interest rate by 25 basis points to 3.50 percent at February's monetary policy meeting, and then again in March to 3.75 percent, a monthly central bank poll of analysts showed.
Last month, the central bank surprised many in the market by holding its rate steady to complement a currency intervention to tame the strong peso after seven straight rate increases.
The poll also raised the outlook for median first-quarter GDP growth to 7.8 percent from a year earlier, and forecast the peso would trade at 480 per dollar in April.
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