Experts raise Chile's 2010 growth forecast to 5%

For the second time in consecutive month, experts raised Chile’s growth forecast for this year. This follows a survey by the Central Bank in which specialists now forecast a 5% growth rate for this year.

In the previous survey, the average reached 4.8% expectations. An 2011 estimates stood at 5.8%.

Specialists, academics and market investors, however, also forecast a one tenth increase in inflation, to 3.6% by the end of 2010. In August, prices would go up 0.4%.

In this context, experts expect the Central Bank will raise interest rates a half percentage point up to 2% annually.

On the exchange rate, scholars applied a sharp adjustment in their estimate for the next two months. The average of the projections placed the dollar at $515 pesos, compared to $530 last month.

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