Central Bank reduces interest rate to 0.5%

The Central Bank cut interest rates to 0.5%, its lowest level since June 2010. “The sharp change in the macroeconomic scenario caused by COVID-19, including the spread of the pandemic to Chile, leads us to estimate that the economy began a severe contraction in the second half of March that will extend into the second half of the year,” said the Central Bank.

Source: EMOL