Chile’s central bank says looking at more options to jumpstart economy: minutes

imageEconomy2 hours ago (May 22, 2020 09:05AM ET)

(C) Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in Santiago

By Fabian Cambero

SANTIAGO (Reuters) – Chile’s central bank will consider further monetary impulse measures including non-traditional avenues to bolster the economy as the world’s no. 1 copper producer grapples with the impact of the global coronavirus pandemic, according to minutes of its latest policy meeting released on Friday.

The bank decided in May to keep the benchmark interest rate at a technical minimum of 0.5% – its lowest level since 2009 following a series of cuts over several months – while taking other measures to guarantee liquidity in the financial system.

The bank said it would consider taking further action to stimulate monetary impulse “with special attention to its impact on the flow of credit to the economy,” the minutes said, adding that it would study other, “non-traditional” measures to jump-start financial activity.

Chile’s central bank says looking at more options to jumpstart economy: minutes

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