March 23, 2020 / 1:30 PM / 9 days ago

Brazil central bank chief says financial system in solid shape

BRASILIA, March 23 (Reuters) - Brazil’s banking system has adequate liquidity and no institution needs a bailout, central bank president Roberto Campos Neto said on Monday, adding that the bank has a wide range of tools at its disposal to face the current crisis.

Speaking at an online press conference from the bank’s headquarters in Brasilia, Campos Neto said the central bank is “completely calm” and that its has a wide range of intervention power in the foreign exchange market it will deploy if need be.

Reporting by Jamie McGeever and Marcela Ayres Editing by Chizu Nomiyama

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