March 7, 2017 / 12:47 PM / a year ago

Chile central bank head takes dovish tone in speech

SANTIAGO, March 7 (Reuters) - Chile central bank head Mario Marcel said growth in the first quarter of 2017 “will not be better” than last quarter’s growth, due in part to a strike at BHP Billiton’s Escondida mine, according to a transcript of remarks he delivered at a university in Santiago.

He said that a “more expansive” monetary policy in line with the government’s December IPoM report would be necessary to bring inflation to target. Recent evolutions in the economy would affect the bank’s next growth projections in March, he added. (Reporting by Gram Slattery)

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