Chile’s benchmark rate to rise to 8% in May: Central Bank traders survey

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SANTIAGO, April 18 (Reuters)Chile’s central bank will raise the country’s monetary policy rate (MPR) to 8% at its May meeting in response to strong inflationary pressure, according to a survey of traders released by the bank on Monday.

The MPR – which has been at 7% since the end of March – should rise in June to 8.5%, but will fall back to 7.5% within a 12-month horizon.

Consumer prices will rise 0.9% in April, putting the 12-month inflation rate at 7%, well above the central bank’s tolerance range.

The Chilean peso will trade at 810 units to the dollar in seven and 28 days, according to the poll.

(Reporting by Fabián Andrés Cambero Editing by Chizu Nomiyama)

((; twitter: @fab_reuters; +569 62479675;))

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