June 9, 2020 / 1:28 PM / a month ago

Chilean economic growth to sink 15.5% in May, 13% in second quarter: poll

SANTIAGO (Reuters) - Chilean economic growth will sink 15.5% in May and 13% in the second quarter as the world’s largest copper producer continues to struggle with the effects of an economic shutdown to halt the spread of the new coronavirus, analysts said in a central bank poll published on Tuesday.

The central bank is not likely to adjust its 0.5% interest rate for the next five months at least, with inflation sinking from 2.5% at present - within the bank’s 2% to 4% range - to zero next month, but recovering to 2.5% in 11 months, the analysts said.

The exchange rate was seen at 780 pesos per dollar in two months and 760 pesos to the dollar in 11 months.

Chile is among the worst-hit by the new coronavirus in South America so far, with a total of 138,846 cases and 2,264 deaths confirmed as of Monday.

Reporting by Aislinn Laing; Editing by Andrew Heavens and Bernadette Baum

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