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Economic Activity Data Due At 1330BST/0830ET

CHILE
  • At the bottom of the hour, we have March economic activity data from Chile. The median surveyed estimate points to a 1.7% fall in March from a year earlier. Excluding mining, the data is expected to extend a downtrend. The result would imply a month-on-month decline of -0.4% and support analyst’s expectation for activity and domestic demand to slow toward sustainable levels after rising above potential after the pandemic.
  • The data comes shortly before the May 12 BCCh decision. President Costa and the board have maintained a hawkish stance so far this year, however, it will be interesting to see if today’s figures and the May 08 CPI report have any influence on the central bank’s policy stance.

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