Benchmark Rate in Argentina
Argentina - Benchmark Rate
Central Bank stands pat in October
On 20 October, the Central Bank of Argentina (BCRA) decided to keep the LELIQ rate unchanged at 75.00%, deeming the current level of the LELIQ rate sufficient to support the peso and limit inflation and inflation expectations.
The Bank stood pat on the basis that core inflation data for September turned out better than expected, with the month-on-month variation standing at 5.5%, lower than the 6.2% month-on-month increase in headline inflation. Meanwhile, annual inflation spiked to 83.0% in September from 78.5% in August. Argentina’s monetary policy is framed in an agreement with the IMF; the country has committed to moving gradually towards positive real interest rates.
Looking ahead, the Bank did not give explicit guidance but stated that it will use the levers of interest rates and money aggregates in order to curb inflation and prevent excessive financial volatility.
FocusEconomics analysts are still assessing the latest developments.
Argentina - Benchmark Rate Data
|Benchmark Interest Rate (%)||27.25||19.88||23.25||49.50||40.31|
5 years of economic forecasts for more than 30 economic indicators.
Argentina Benchmark Rate Chart
Source: Argentina Central Bank.
|Bond Yield||6.69||0.15 %||Dec 17|
|Exchange Rate||59.88||0.45 %||Dec 30|
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November 30, 2022
The Universidad Torcuato di Tella (UTDT) consumer confidence index decreased to 35.1 in November from 35.6 in October.
November 24, 2022
Merchandise exports plummeted 11.5% over the same month last year in October (September: -2.2% year-on-year).
November 24, 2022
The monthly indicator for economic activity (EMAE) expanded 4.8% in year-on-year terms in September, which followed August's 6.6% increase.
November 17, 2022
Inflation came in at 88.0% in October, up from September’s 83.0%.
November 9, 2022
Industrial output expanded 4.2% compared to the same month of the previous year in September, which was a deterioration from August's 7.8% increase.