Chilean market analysts maintain 5.5% drop in GDP forecast for 2020

Chilean financial analysts are maintaining their forecast of a 5.5% drop in gross domestic product (GDP) for 2020, reported by the Central Bank of Chile. According to the bank’s Economic Expectations Survey, analysts continue to expect the economy to recover with 4.5% growth in 2021 and 3% increase in 2022, as forecast in September’s survey. Regarding the Monetary Policy Rate, the survey projected it will remain at 0.5% over the next 17 months, then rise to 0.75%.

Source: Xinhuanet