Brazilian central bank seeks power to buy government bonds

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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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