SANTIAGO, April 12 (Xinhua) -- Chilean financial market analysts projected the country's economy will grow 1.5 percent in 2022 and 0.8 percent in 2023, according to the Economic Expectations Survey published Tuesday by the Central Bank of Chile.

Economists consulted in the April survey estimated that the Consumer Price Index will have a variation of 0.8 percent this month to close the year at 7.8 percent, while it will end 2023 with a 4.2 percent variation.

Analysts also projected that the country's monetary policy rate will end the year at 8 percent.

The rise in the rate means the decline in some sectors, such as real estate, although experts agreed that the hike is not only a local, but a worldwide phenomenon.

The central bank's monthly survey is sent to a group of financial institution advisors, as well as academics and consultants.