CHILE
Analysts
Robert Funk
Former President, Political Science Association
Igal Magendzo
Former Manager of Macro Analysis, Central Bank
Andrés Velasco
Former Finance MinisterDatabanks
Recent Country Insights
Monetary policy and the fiscal rule under strain
CHILE · Report · 17 Feb 2026
Activity continues sluggish. We therefore maintain our near-term interpretation of stable growth at close to potential, with a modest upside bias from improved sentiment. Business sentiment improved sharply in January 2026. But hard data released at the end of 2025 reinforces our cautious view. I...
Proceed with caution
CHILE · Report · 29 Jan 2026
The November Monthly Index of Economic Activity (IMACEC) confirmed that strength in October did not mark the start of a new trend. The pullback was broad-based, with commerce the lone exception, posting only a marginal gain. Our baseline for 2026 assumes GDP growth at slightly above 2%, broadly i...
Kast's Cabinet
CHILE · In Brief · 22 Jan 2026
On Wednesday José Antonio Kast has presented his first cabinet. Clearly it is a team designed not so much with politics in mind, but aimed at meeting the short-term policy objectives that the president-elect has announced. Even though the ideological shift will be evident, the question is whether...
A rare equilibrium
CHILE · Report · 30 Dec 2025
With the monetary policy rate now at 4.5%, a level we consider broadly neutral, indicators point to an economy operating close to equilibrium. The main risks remain external, and recent data are consistent with this view. Beyond monthly volatility, activity appears to be at a stable but sluggish ...
Webinar replay - Chile election briefing: The next administration
CHILE · Report · 16 Dec 2025
After the election of Chile's next president, what do the results reveal about the electorate? Which goals will the incoming administration prioritize? What challenges are ahead for the president-elect? Watch the replay of the final installment of our Chile Election Briefing webinar series fea...
Kast wins
CHILE · In Brief · 15 Dec 2025
Many observers ask how it is that a country that six years ago was marching on the streets and four years ago elected a young leftist firebrand has now elected a conservative with a record of supporting the Pinochet dictatorship. One possible answer lies in the rejection of a highly unpopular and...
Upcoming webinar - Chile election briefing: The next administration
CHILE · Report · 12 Dec 2025
Date: 15 Dec 2025 Time: 10:00 AM Eastern Time After the election of Chile's next president, what do the results reveal about the electorate? Which goals will the incoming administration prioritize? What challenges are ahead for the president-elect? Join us for the final installment of our ...
Soft data and hard politics
CHILE · Report · 25 Nov 2025
IMACEC volatility remains high, reinforcing the need to interpret monthly prints from a wider perspective. GDP results confirmed a soft third quarter. Mining disruptions were the main drag, but private consumption growth also moderated. Although the most recent data look stronger, we interpret it...
Chile's Economists: a first tentative dance
CHILE · In Brief · 18 Nov 2025
Some media outlets have reported that a group of economists who had supported Evelyn Matthei’s presidential campaign have already signed on to the Kast bandwagon. The reality is somewhat more tentative. However, talks are underway. A meeting was held on Tuesday morning between Kast’s economic adv...