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Chile central bank survey expects 4% GDP contraction in November

Experts expect Chile's GDP to further contract by 4% in November as violent protests in past weeks continue to impact the country's economic performance, according to Banco Central de Chile's latest economic expectations survey.

The expected shrinkage is worse than the 3.4% contraction recorded in October, the month in which the protests began.

The central bank survey forecasts GDP to grow by 1% in 2019 and expand 1.5% in 2020.

Both the central bank and the Chilean finance ministry have warned about impacts on the economy should the protests against social inequality in the country persist.

Meanwhile, analysts also expect the monetary policy rate to be maintained at 1.75% in the next 11 months.