SANTIAGO, April 15 ― Chilean President Gabriel Boric faces an economic slowdown and high inflation, which conflicts with his goal to expand social programmes, and could increase pressure for more financial stimulus, according to a Bank of America report released yesterday.
The report says that higher food prices and a weakening economy clash with the population's high expectations of reform from the new government and the drafting of a new constitution, putting pressure on more spending. The bank said that while the government's limited proposal would have less impact on inflation as it represents a fifth of the money from the larger withdrawal, it still presents risks for the economy and prices.
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