SANTIAGO – Experts surveyed by Chile’s Central Bank lowered to 2.7 percent their expectation for economic growth this year.
The bank’s latest Monthly Survey of Economic Expectations shows economists standing by their estimates of 3.5 percent growth in 2016 and 3.7 percent in 2017.
Chilean gross domestic product will likely gain 2.3 percent in the second quarter, according to the 60 academics, consultants and financial advisers surveyed by the Central Bank.
Chile’s GDP increased 1.6 percent in March and by 2.2 percent for the first quarter, representing a modest recovery after growth of only 1.9 percent in 2014, down sharply from the 4.1 percent expansion the previous year.
The experts surveyed estimate inflation in Chile this year will run at 3.5 percent, slowing to 3 percent in 2016.
Prices rose 4.1 percent over the 12 months ending April 30.
Experts also expect that the Central Bank will keep the benchmark interest rate at 3 percent when its policymaking board meets on Thursday.