José De Gregorio: Alfa crisis is a minor problem within the system

SANTIAGO.- José De Gregorio, president of the Central Bank, said today that the current crisis at the Alfa stock exchange is a minor problem from a systematic point of view, but that the Central Bank is always very prepared to confront any type of problem.

De Gregorio added that the case is being handled by the SVS, the Stock Exchange, and the Central Bank itself, and explained that the problem is quite negligible.

Concerning the exchange market, the economist said that the appreciation of the Chilean peso has been severe and unexpected, but that it corresponds to the worldwide pattern being exhibited by the dollar.
 
While referring to the recent performance of the U.S. dollar, De Gregorio stated, “I am not surprised by what has happened with the dollar”, and explained that a major depreciation of the U.S. currency should not be ruled out.