Chile's central bank is expected to lower its benchmark interest rate by another 75 basis points to 8.75% at its next monetary policy meeting later this month, a poll of analysts released by the bank showed on Wednesday.

The Andean country kicked off a monetary easing cycle in July with a larger-than-expected 100-basis-point rate cut and reduced rates again in September, but this time by 75 basis points.

According to the poll, the analysts believe the benchmark rate will reach 7% within five months. (Reporting by Fabian Andres Cambero and Gabriel Araujo; Editing by Steven Grattan)