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Economic Activity Dips For Second Consecutive Month

CHILE
  • Economic activity dropped for the second straight month, adding to evidence that the recovery is losing steam:
    • Chile Jan. Economic Activity +9.0% Y/y; Est. +10.7% (BBG)
  • Hacienda will not hold dollar auctions in March, according to a statement on the ministry’s website.
    • Information could be subject to modifications due to significant changes in market conditions or financing needs.
  • President Pinera nominates Stephany Griffith-Jones as central bank board member, according to statement from presidency.
    • Griffith-Jones holds doctorate degree in economics from University of Cambridge and has served as consultant for governments and central banks of countries including U.K., Brazil, Chile and Sweden.
    • For reference the nomination must be approved by Chile’s senate.
  • Chile’s incoming Finance Minister Mario Marcel says his priorities include making the country’s economic recovery as inclusive as possible, creating jobs and implementing a tax reform, newspaper El Pais reports citing an interview.
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