August 11, 2019 / 2:58 PM / 3 months ago

Chilean finance minister plans more expansive fiscal policy -newspaper report

SANTIAGO, Aug 11 (Reuters) - Chile plans to roll out a more expansive fiscal policy and additional measures to stimulate economic growth to counter impacts from the U.S.-China trade war, the finance minister said in a newspaper interview published on Sunday.

Chile, the world’s No.1 copper producer, has cut its economic growth forecast for this year to 3% from 3.8%.

“We’re going to have a more expansive fiscal policy,” Finance Minister Felipe Larrain was quoted saying in El Mercurio. “We’re thinking of additional measures to stimulate the economy.”

In June, Chile’s central bank unexpectedly slashed the benchmark interest rate by 50 basis points to 2.5%, citing global trade tensions. Analysts expect another rate reduction in September.

Reporting by Fabian Cambero and Mitra Taj; editing by Grant McCool

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