Chilean financial market raises 2022 inflation forecast to 11 pct

SANTIAGO, July 12 (Xinhua) -- Chilean financial market analysts raised the country's inflation forecast for 2022 to 11 percent, higher than last month's estimate, the Central Bank of Chile said Tuesday.

According to experts consulted in the bank's July Economic Expectations Survey, the Consumer Price Index will have a variation of 1 percent this month.

Specialists forecasted an economic growth of 1.8 percent in 2022, slightly higher than the 1.7 percent from June, while zero growth was projected in 2023, according to the data provided.

Economists also estimated that the country's monetary policy rate, a tool used to halt inflation levels by cutting monetary stimulus, will end the year at 10 percent.

The increase in the rate will make it more expensive to get into debt, while reducing the growth of some sectors, such as real estate, which have been hit by rising inflation.