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13 Aug 2019, Radoslav Yordanov, EMIS Editor

Analysts lower 2019 Chile’s forecast

Analysts, polled by Chile’s central bank BCCh, lowered its 2019 GDP growth forecast by 0.2% to 2.6%, CEEMarketWatch reported. 

The downward revision is mainly explained by the eventual negative impact of the trade tensions between the United States and China on key prices for the Chilean economy. The disappointing performance of domestic consumption, investment and labor market this year is also behind the reduction. 

The experts also projected that BCCh will cut its interest rate by 25bps to 2.25% in its next meeting. Moreover, the analysts also cut its 2020 forecast by 0.1% to 3.1%. 

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Original source: CEEMarketWatch