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

Source: Xinhua| 2020-10-14 04:54:04|Editor: huaxia

SANTIAGO, Oct. 13 (Xinhua) -- Chilean financial analysts are maintaining their forecast of a 5.5 percent drop in gross domestic product (GDP) for 2020, the Central Bank of Chile said on Tuesday.

According to the bank's Economic Expectations Survey, analysts continue to expect the economy to recover with 4.5 percent growth in 2021 and 3 percent growth in 2022, as forecast in September's survey.

Analysts projected a 7.1 percent decline in economic activity in September compared to the month before, less than the 11.3 percent drop registered in August.

Regarding the Monetary Policy Rate, the survey projected it will remain at 0.5 percent over the next 17 months, then rise to 0.75 percent.

The central bank surveyed academics, consultants and executives or advisers of financial institutions between Oct. 5 and Oct. 9. Enditem