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LatinNews Daily - 03 September 2020

In brief: Chile’s central bank revises GDP forecast up

* In its latest monetary policy report (Ipom), Chile’s central bank (BCCh) has forecast that Chile’s GDP will contract by 4.5%-5.5% in 2020, an improvement on the 5.5%-7.5% contraction forecast in its previous (June) report. Presenting the report, BCCh president Mario Marcel said that there are “signs of stabilisation” in the economy and most businesses are adapting to the coronavirus (Covid-19) pandemic. However, he remarked that the relaxation of isolation measures might be reverted if new infections rise and noted that whilst activity in the commerce and services sector is picking up, in sectors where face-to-face work is essential “the contraction has been maintained or deepened”.

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