After the US dollar in Chile broke the milestone exchange rate of a thousand Pesos in June, the Central Bank reacted by announcing it will literally flood the market with 25bn dollars, of which 10bn to be supplied to the spot market, another 10bn covering future dollar operations, and 5bn in swap deals.
Brazil’s central bank reiterated that inflation will continue to slow toward its target, signalling it will further reduce interest rates that have already been cut to a record.