Inflation would remain this year and the following two years within the 1%-3% target range, based on results of the Macroeconomic Expectations Survey conducted by the
in November 2020.
According to the
BCR, inflation is expected to show a rate between 1.5% and 1.9% in 2020, and a rate between 1.5% and 2.0% in 2021.
In 2022, the surveyed groups expect an inflation rate of 2.0% —within the target range.
Moreover, inflation expectations have remained within the target range 85% of the time in the last 18 years.