Brazilian central bank seeks power to buy government bonds

The Central Bank of Brazil plans to ask the government to grant it powers to buy public as well as private assets in a bid to stabilise the economy during the Covid-19 crisis.

Currently, the central bank is allowed to buy government securities to control interest rates and regulate money supply. However, according to a report by news agency Reuters on March 27, the institution requested powers to implement a full-blown quantitative easing programme via a constitutional amendment.

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