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Chile’s Central Bank Cuts 2014 Growth Forecast for Fifth Time

– Chile´s central bank cut its growth forecast for this year for the fifth time and said that early data from the fourth quarter showed no sign of a significant recovery.

Gross domestic product will expand 1.7 percent, compared with the previous estimate of 1.75 percent to 2.25 percent, the bank said in its quarterly monetary policy report released in Santiago today. The economy will expand 2.5 percent to 3.5 percent next year, the bank said, down from a previous estimate of 3 percent to 4 percent.