Chile's reference interest rate would fall to 1.75% in December

The Monetary Policy Rate (MPR), the benchmark interest rate in Chile, would reduce 1.75% in December and remain at that level in an average 11-month horizon of the persistent weakness of the economy, according to a survey released by the entity

The Survey of Economic Expectations revealed that the Monetary Policy Rate would remain at 2% in October.

Meanwhile, the Consumer Price Index would rise 0.3% in September and 0.4% in October, accumulating an increase of 2.8% in eleven months, still below the target of the agency that is in the range of 2% and 4%.

The survey also projected that the Monthly Economic Activity Indicator (Imacec) would have expanded by 2.9% in August, while in the third quarter, respondents predicted a Gross Domestic Product (GDP) growth of 3.2%.

Meanwhile, the Chilean peso would reach 710 units per dollar within two months and 690 units in eleven months.