Chile and Uruguay
News

Southern Cone watch: Uruguay monetary policy, Chile factoring rules

Bnamericas

Uruguay’s central bank has started using an interest rate, instead of monetary supply variables, to guide monetary policy. 

Authorities had ditched the benchmark rate as a policy tool in 2013.

The latest move is part of wider efforts to help anchor inflation expectations. 

The bank’s inflation target range is 3-7% for the next two years, due to be amended to 3-6% in September 2022, a central bank statement said.

Annual inflation was running at 9.79% in August.

***

Chile’s financial securities watchdog CMF published new rules that allow banks and their factoring subsidiaries to buy invoices from third parties that were not issued by them. 

A key aim is to help support liquidity in the factoring sector via greater interaction between sector players and the likes of banks, a CMF statement said.

The rules had been put out to public consultation earlier this year.

Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects

Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.

  • Project: Josemaría
  • Current stage: Blurred
  • Updated: 1 hour ago
  • Project: Bilbao
  • Current stage: Blurred
  • Updated: 2 days ago

Other companies

Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.

  • Company: Nopetro LNG, LLC  (Nopetro Energy)
  • The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
  • Company: Glencore Chile S.A.  (Glencore Chile)
  • The description contained in this profile was extracted directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine...
  • Company: Grupo HYCSA S.A. de C.V.  (Grupo HYCSA)
  • Mexican construction company Grupo Hycsa was founded in n 2006 after the merger of CYDSSA and CALCO. Its operations are split into three business areas: Construction, which comp...
  • Company: Sapco Energia S.A. de C.V.  (Sapco Energia)
  • The description included in this profile was taken directly from an AI source and has not been edited or modified by BNamericas researchers. However, it may have been automatica...
  • Company: OTEPI Consultores S.A.  (Grupo OTEPI)
  • The description contained in this profile was extracted directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine...
  • Company: Minera San Jorge S.A.  (Minera San Jorge)
  • Minera San Jorge S.A is an Argentine mining company currently developing the San Jorge porphyry copper-gold project. The project consists of an open-pit mine and concentrator in...