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Investing.com - The Chilean stock market is positioned for potential gains as the November elections are likely to result in a right-wing administration with support from Congress, according to a new analysis from BCA Research released Wednesday.
BCA notes that Chile’s economic fundamentals appear favorable, with low inflationary pressures and expectations for decent growth. The central bank is projected to implement meaningful interest rate cuts, while fiscal policy is expected to remain modestly tight under the anticipated new government.
The Chilean peso is forecast to maintain stability or potentially strengthen against the U.S. dollar in both the near and long term. This currency outlook is supported by what BCA describes as "decent balance of payment fundamentals" and an improving structural economic backdrop.
Both Chilean equities and the currency are currently undervalued according to the research firm’s assessment, creating what it terms "an excellent buying opportunity" for investors with medium to long-term horizons, particularly during market selloffs.
The positive outlook comes as Chile prepares for its November elections, which could mark a significant shift in the country’s political landscape and economic policy direction after a period of political uncertainty.
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