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13 Mar 2019, Radoslav Yordanov, EMIS Editor

Analysts cut 2019 growth forecast for Chile

Analysts polled by Chile’s central bank BCCh lowered their 2019 and 2020 forecasts for the local economy by 0.1% to 3.4%, CEEMarketWatch reported.

This downward revision contrasts with the government’s projection of 3.8% expansion this year and it is mainly explained by the weaker than expected economic activity over the last few months. In this regard, the experts also cut its estimates for Chile’s GDP in Q1 by 0.4% to 2.6%.

Regarding 2019 year-end inflation, the analysts held its expectations at 2.7% y/y, suggesting that this component was much lower than thought. According to the consensus forecast, the Monetary Policy Council will only raise rates 25 bps one more time this year to 3.25%.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: CEEMarketWatch