Getting Back To High Growth

Getting Back To High Growth


Growth estimates for Chile this year range from 4.5% to 5.5%, close to its performance last year but considerably off the 8% annual growth the country registered between 1987 and 1998, when Chile was the fastest-growing Latin American economy. The Chilean central bank bowed to market pressure and in mid-February lowered its overnight lending rate to 4.5% from 4.75%. The interest rate cut should act as a short-term market catalyst to stimulate faster growth in cyclical and capital-intensive industries. In lowering rates, the central bank took into consideration the expected the reduction in US and global economic growth rates, its effect on the international interest rates, the re

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