Figure 6 Contribution to annual growth in real wage mass (*) (percentage points)  9  9  Wages  Real wage mass  6  6  3  3  0  0 Employment  -3  -3 09  10  11  12  13  14  15  16  (*) Moving quarterly average. Sources: Central Bank of Chile and National Statistics Institute (INE). BIS central bankers’ speeches  11  Figure 7 Net capital flows (1)  Nominal exchange rate (2)  (billions of dollars, moving month)  30  (accumulated change since May 2013 trough, percent)  30  Asia  20  20  10  10  0 Europe  0 -10  -20  -20  Latin America 13  14  15  Latin America (3) (6)  Comparable currencies (4) (6)  80 60  40  40 Chile  20  -30  -40  100  80 60  -10  -30  100  -40  Commodity currencies (5) (6)  0  16  05.13 May.13  05.14 May.14  05.15 May.16 05.16 May.15  20 0  (1) Latin America: Brazil, Chile, Colombia, Mexico and Peru; Asia: Korean Rep., Indonesia, Malaysia and Thailand; Europe: Czech Rep., Hungary, Poland, Russia and Turkey. (2) Dotted vertical line shows March 2016 Monetary Policy Report 2016. (3) Includes Brazil, Colombia, Mexico and Peru. (4) Includes Brazil, Colombia, Czech Rep., Korean Rep., Israel, Mexico, Philippines, Poland and Turkey.
BIS central bankers’ speeches  9  Figure 4 Real annual contribution to GFCF (*) (percentage points) 16 16  1616  Mining  12 12  1212  88  88  Other  44  Non-mining 4 4  00  00  -4-4  -4-4  Housing  -8-8  -8-8  -12 -12  -12 -12  -16 -16  -16 -16  09 09  10 10  1111  1212  13 13  14 14  15 16 (f) 15 (e) (e) 16 (f)  17 17(f)(f)  (*) 2015 mining investment is etimated using information from listed companies (FECU). Housing investment uses data from the Chilean Chamber of Construction and National Accounts by institutional sector. Other investment calculated residually. For 2016, forecasting models of the Central Bank and other sectoral sources are used, such as the Capital Goods Corporation's surveys and investment plans. (e) Estimate. (f) Forecast. Source: Central Bank of Chile.