Jorge Selaive
Jorge Selaive
Chief Economist

Jorge Selaive is the Chief Economist for BBVA Research Chile. Previously, Jorge served as Chief Economist of Banco de Crédito e Inversiones (BCI). He handles short-term and long-term analysis of the financial, economic and regulatory aspects of the Chilean economy.

He was an Economist at the Federal Reserve Bank of the United States, in Washington D.C., and a Senior Economist and Economic Research Manager at the Chilean Central Bank’s Research Division.

He was Director of BCI Corredor de Bolsa (BCI’s brokerage division), a member of the Chilean Association of Banks Public Policy Commission, Editor of the Chilean Economic Review, published by the Chilean Central Bank, and a member of the Price Distortion Commission. He has also been a Professor of Macroeconomics and International Finance at the University of Chile.

He received his Bachelor’s Degree in Economics and Business Engineering from the University of Chile, where he also completed a Master’s Degree in Finance in 1995. He earned his PhD in Economics from New York University in 2003.

He is also the author of several publications in specialized journals and serves as a member of the Chilean Tax Authority’s Capital Markets Advisory Council and GDP Trend Committee.

Latest publications

Exuberant expectations have been created about local economic growth that we do not share. We have a cautious and conservative view of growth with an unguaranteed expansion of 3.2% this year, significantly lower than the 3.6% in the surveys and the 3.5% estimated by the Central Bank.
The growth in the IMACEC in January of 3.9% YoY exceeds market expectations, supported by a genuine upturn in the non-mining sector. Trade, manufacturing and services boosted growth of 3.5% YoY in non-mining activity, while mining expanded by 8.6% YoY. In February we would see growth of between 4.0% and 5.0% YoY.
The January CPI 0.5% MoM surprised the market and exceeded expectations, due to a significant increase in the price of food (vegetables). Core inflation of 0.3% MoM was largely due to the readjustment of tariffs and a seasonal increase in some services, since the inflation of goods was at 0.1% MoM. The disinflationary impact of the appreciation of the peso is expected to be seen in the coming months.