March 17, 2020
Chile's Central Bank cut the benchmark interest rate by 75 basis points to 1% in a special meeting on Monday and announced other measures "aimed at safeguarding the good functioning of the financial market," it said in a statement.
"The macroeconomic scenario facing the Chilean economy has deteriorated rapidly and significantly in connection with the global expansion of COVID-19 and the associated financial turmoil," the bank said.
The recent dive in the financial markets has yet to show up in C
Central Bank also offers liquidity lines to banks to "ensure the normal functioning of credit markets"