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Economic Activity Due, BCCh On Tuesday

CHILE
  • At the bottom of the hour, the Central Bank of Chile publishes its monthly Imacec economic activity indicator for February, where the data was likely unchanged from a year earlier. Excluding mining, it should extend a downtrend. The result would imply a 0.2% month-on-month decline and support analysts’ expectations for activity and domestic demand to continue slowing toward sustainable levels, though both are decelerating less than policymakers expected. Wildfires in February were an additional drag on the economy.
  • After the close on Tuesday, the BCCh are unanimously expected to hold the overnight rate target at 11.25%, in line with prior guidance from the central bank board.

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