Chile's central bank raises economic growth forecast for 2022


  The Chilean economy will expand between 1.5-2.25% this year, after last year's solid recovery after the coronavirus pandemic, the country's central bank said on Wednesday.

  In its March Monetary Policy Report the forecast for 2022 was between 1.0-2.0%.

  On the other hand, the bank predicted that annual average inflation will reach 10.8% this year, above the agency's tolerance range. The previous estimate was 8.2%.

  “The adjustment of activity occurs with a marked difference between the behavior of consumption and investment, where the former still remains at high levels,” the bank said in the report.

  Meanwhile, the price of copper would average $4.25 per pound this year, from $4.35 previously forecast.

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