Central Bank of Chile maintains the interest rate at 0.5 %
The financial institution also announced a new credit assistance program of up to 10 billion dollars
The board of the Central Bank of Chile unanimously decided to maintain interest rates at the level of 0.5 % and to adapt a new credit assistance program of up to 10 billion dollars, through the financing line conditioned to the increase of placements.
In its last monetary policy meeting, the institution highlighted the gradual economic recovery of the Andean country, highlighting the dynamics of trade, in contrast to the “lag” of the services sector.
In this context, he indicated that it will maintain the level of 0.5 % for practically the next two years, in line with a “highly expansionary” monetary policy.
Regarding the facility for financing conditional on the increase in loans, the board of the Central Bank has agreed to open a third stage that contemplates an amount of 10 billion dollars and a term of six months.
The council understands that this new stage of the facility responds to the financial needs of the companies, complementing the recently approved Fogape-Reactiva program, especially in its refinancing line. Likewise, the agency will maintain the reinvestment policy of the bank bond stock program announced in December.
K. Tovar
Source: Notiamerica
