The 4.9% q/q surge in Chile’s GDP in Q3 took output not only above its pre-pandemic level but also its pre-crisis trend. The strength of the figures means that we now expect above-consensus growth of 12.0% this year (from 11.0%) and 4.0% next year. With increasing signs that the economy is overheating, the central bank will continue its aggressive tightening cycle in the coming months.
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