Chile’s economy affected by commodities price shocks, says central bank governor
Commodity prices are ‘strongly correlated to the non-commodity GDP’, says Vergara
The deceleration of the Chilean economy can be attributed partly to the end of the commodity price cycle, Rodrigo Vergara, governor of the Central Bank of Chile, said yesterday.
"Now that the commodity price cycle is changing, the effects have already been felt in some commodity-producing countries," Vergara said at the central bank's conference in Santiago, noting the decline in mining investment had impacted the wider Chilean economy.
Commodity price shocks can "be transmitted to the rest of
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