{"id":172283,"date":"2020-06-17T07:46:56","date_gmt":"2020-06-17T11:46:56","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=172283"},"modified":"2020-06-17T07:46:56","modified_gmt":"2020-06-17T11:46:56","slug":"chile-maintains-rate-but-boosts-un-conventional-easing","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/06\/chile-maintains-rate-but-boosts-un-conventional-easing\/","title":{"rendered":"Chile maintains rate but boosts un-conventional easing"},"content":{"rendered":"<div id=\"inves-2682113896\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 17, 2020<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.centralbanknews.info\/\"><u>CentralBankNews.info<\/u><\/a><\/p>\n<p>Chile&#8217;s central bank left its monetary policy rate steady for the second month but said the current state of the economy &#8220;requires an intensification of the monetary boost&#8221; and expanded its asset purchases and other incentives to businesses to stimulate economic activity further.<br \/>\nThe Central Bank of Chile (CBC) maintained its monetary policy rate at 0.50 percent, the level if it described as a &#8220;technical minimum.&#8221;<br \/>\nCBC has already cut its policy rate by 125 basis points this year following two rate cuts in March and by 250 points since June 2019 when it embarked on a monetary easing cycle.<br \/>\nChile&#8217;s central bank said it would open phase two of the Conditional Facility for Increased Lending (FCIC), which covers US$16 billion of incentives for 8 months to lend to small and medium-sized enterprises (SME) and to non-banking credit providers.<br \/>\nSecondly, CBC said it would implement a special asset purchase program in the amount of US$16 billion over 6 months with both programs mobilizing resources of up to 10 percent of Chile&#8217;s Gross Domestic Product.<br \/>\nThe central bank added that it would continue to explore options to intensify the monetary stimulus and support financial stability via unconventional monetary instruments if needed.<br \/>\nData from Chile in April show a significant drop in economic activity in April, which the central bank should go to &#8220;new depths&#8221; in May and June due to the extension and duration of the measures to contain the Covid-19 pandemic.<\/p>\n<p><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><br \/>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By CentralBankNews.info Chile&#8217;s central bank left its monetary policy rate steady for the second month but said the current state of the economy &#8220;requires an intensification of the monetary boost&#8221; and expanded its asset purchases and other incentives to businesses to stimulate economic activity further. The Central Bank of Chile (CBC) maintained its monetary policy [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-172283","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=172283"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172283\/revisions"}],"predecessor-version":[{"id":172291,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172283\/revisions\/172291"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=172283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=172283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=172283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}