We have lowered our 2024 GDP growth forecast for Chile by 0.1ppt to 2.5% y/y and continue to expect 2.9% y/y growth in 2025. Risks remain tilted to the downside as the consumer response to the ongoing electricity price rises remains uncertain, though the Banco Central de Chile's (BCCh's) dovish response this month to higher inflation risks has alleviated downside risks a little.
Chile: Weaker domestic demand balances continued policy rate cuts