Chile cuts rates to 1%

Chile cuts rates to 1%

Economy & Policy Corporate & Sovereign Strategy Capital Markets Bonds Loans Fixed Income Regulation Politics Chile Andean

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

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