March 26, 2020 / 4:08 PM / 3 days ago

Brazil central bank focus on providing liquidity to banks - Campos Neto

BRASILIA, March 26 (Reuters) - Brazil’s central bank does not have the tools to cover companies’ liabilities or buy their debt, central bank president Roberto Campos Neto said on Thursday, adding that its main channel of financial support is to pump liquidity into the banking system.

Answering questions from journalists in an online virtual press conference, Campos Neto said policymakers are relaxed about the financial system but are monitoring it closely, and that its liquidity-boosting intervention in the currency market recently has been a success. (Reporting by Jamie McGeever)

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