José De Gregorio: 2008 is a complex year

SANTIAGO.- The president of the Central Bank, José De Gregorio, has called 2008 a complex year following the release of the institution’s May Monetary Policy Report to business leaders at ICARE.

“2008 is a complex year on a global scale, with a weak and uncertain international scenario that is also affecting the Chilean economy”, asserted the economist.

De Gregorio also maintained that “no one should be indifferent or in agreement with” the current inflation and recommended that careful action be taken.   Nevertheless, the economist reiterated that the Chilean economy is in “very good conditions” to face the international trials and tribulations.

Regarding the impact of energy costs (which according to De Gregorio could be cutting the country’s growth rate by half a percentage point), the Central Bank president stated, “as Chileans, we are victims of the high energy prices”.