In its most recent Monthly Index of Economic Activity (Imacec), the Central Bank of Chile reported economic growth of 2.5 % in April.

This percentage is above the estimates from the latest Economic Expectations Survey (EEE), which predicted a 2.10 % growth in activity.

“The new Imacec result was explained by the growth of all its components, with the performance of mining and services standing out, while the seasonally adjusted figure was decisive for mining,” according to the report, which also cites the non-mining Imacec, placing it at 1.8 %, while the seasonally adjusted figure rose 0.3 % in one month and 2.4 % in twelve months.

The production of goods and services showed annual growth of 4.6 %, while trade grew 3.9 % annually. The automotive sector saw the highest vehicle sales. “The seasonally adjusted figures showed a contraction of 0.5 % compared to the previous month, impacted by the results of wholesale and automotive trade.”

M.Pino

Source: biobiochile

(Reference image source: Michelle Celedon on Unsplash)

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La entrada Chile’s economy grew 2.5 % in April apareció primero en Bitfinance.

The board of the Central Bank of Chile unanimously decided to maintain interest rates at the level of 0.5 % and to adapt a new credit assistance program of up to 10 billion dollars, through the financing line conditioned to the increase of placements.

In its last monetary policy meeting, the institution highlighted the gradual economic recovery of the Andean country, highlighting the dynamics of trade, in contrast to the “lag” of the services sector.

In this context, he indicated that it will maintain the level of 0.5 % for practically the next two years, in line with a “highly expansionary” monetary policy.

Regarding the facility for financing conditional on the increase in loans, the board of the Central Bank has agreed to open a third stage that contemplates an amount of 10 billion dollars and a term of six months.

The council understands that this new stage of the facility responds to the financial needs of the companies, complementing the recently approved Fogape-Reactiva program, especially in its refinancing line. Likewise, the agency will maintain the reinvestment policy of the bank bond stock program announced in December.

K. Tovar

Source: Notiamerica

La entrada Central Bank of Chile maintains the interest rate at 0.5 % apareció primero en Bitfinance.