Country Economic Forecasts - Chile
In light of the recently announced public investment plan to fight weak growth, we’ve revised our 2019 GDP forecast for Chile back up. We assess that President Piñera’s US$571 million fiscal boost will push the economy back to 2.5% growth this year, in line with its potential. Meanwhile, the central bank’s decision to cut rates by 50bp with dovish forward guidance overshot the consensus outlook. With a further cut likely in October, Chile is looking to use fiscal and monetary policy stimulus to offset the clear global recession risks.
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