(Bloomberg) Chilean central bank President Mario Marcel said he doesn’t anticipate a rate increase this year because the impact of the coronavirus pandemic…
Chile Central Bank President Marcel Sees Rates On Hold in 2021 msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Chile Keeps Rates on Hold as Covid Surge Hobbles Activity
Matthew Malinowski, Bloomberg News BC-Chile-Keeps-Rates-on-Hold-as-Covid-Surge-Hobbles-Activity , Matthew Malinowski
(Bloomberg) Chileâs central bank held its benchmark interest rate at a record low as tighter lockdowns and an unprecedented surge in virus cases reinforce the need for stimulus in one of Latin Americaâs richest nations.
In a unanimous decision, the bankâs board, led by its President Mario Marcel, kept the overnight rate at 0.5% for the eighth straight meeting on Tuesday. The decision was expected by all 14 analysts surveyed by Bloomberg.
The rate âwill remain at its minimum of 0.5% until the economic recovery takes hold and spreads to the most lagging areas of spending, which will still take several quarters.â
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(Bloomberg) Just over a year ago, Chile’s billionaire president, Sebastian Pinera, had an approval rating of 6%, the lowest in Latin America. His nation was exploding over inequality and he was dismissed as a hardhearted plutocrat. The demand running wild on social media was: “Pinera, resign.