Experts lower growth expectations once more for 2009

SANTIAGO.- Experts polled by the December Economic Forecast Survey performed by the Central Bank have indicated another cutback in their 2009 growth forecast for the Chilean economy.

The analysts have estimated that the national economy would grow 2% next year while the poll previously taken in November had forecasted a 2.5% GDP for 2009.

The growth projections for 2008 have remained at 4% while the estimate for 2010 dropped from 4% established in the previous poll, to 3.6% in this most recent survey.

Meanwhile, the Monthly Economic Activity Indicator (IMACEC) for November was predicted to be 3%.

The experts polled by the financial entity also lowered their inflation forecast for 2009, from 4.6% to 3.9% and predicted that the CPI for December would reach 0.2%.

With regards to the interest rate, those polled predicted that the Central Bank will maintain the figure at its current level of 8.25% and indicated that, over the next two months, the key interest rate should drop to 7.25%.

Lastly, the analysts predicted that the dollar would be at $650 pesos within the next two months and indicated that it would stay at the same value for the next 11 months.