Chile Central Bank Lowers Growth Forecast

Chile’s Central Bank has lowered its growth forecast for the year from 5%-6% to 4.75%-5.25%. According to the Bank, in the second half of the year a lower production of copper will slow economic expansion. However, the Bank expects GDP growth of between 5.25% and 6.25% next year. Last year, Chile’s economy expanded 6.3%. Figures for July showed lower-than-expected year-on-year growth of 4.2%.