The Central Bank of Chile has boosted its range of unconventional monetary policies, as board members argued in favour of an “intensification” of easing measures.

The central bank will now buy $8 billion in assets over six months, though it did not specify exactly what it would buy. Combined with “phase two” of a funding programme for banks, offering cheap liquidity in exchange for lending to small businesses, the measures will be worth as much as 10% of GDP.

“The initial amount of asset

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