Money in Argentina
Argentina - Money
Central Bank hikes interest rate again in July
On 28 July, the Central Bank of Argentina (BCRA) decided to hike the LELIQ rate to 60.00% from 52.00% in a bit to tame inflation. Moreover, the Bank hiked a series of secondary rates.
The decision came at a time of rising inflation and a weakening peso. The current monetary policy stance of the BCRA is framed in an agreement with the IMF, which commits the country to gradually move towards positive real interest rates. The Central Bank added that it is broadening its efforts to coordinate with the Ministry of the Economy in order to progressively reduce monetary financing of the fiscal deficit.
Looking ahead, the Bank hinted at further “calibration” of the key interest rate amid the gradual normalization of its monetary policy stance.
FocusEconomics analysts see the LELIQ rate ending 2022 at 65.55% and 2023 at 63.16%.
Argentina - Money Data
|Money (annual variation in %)||28.2||30.4||26.0||22.8||30.9|
5 years of economic forecasts for more than 30 economic indicators.
Argentina Money Chart
Source: Argentina Central Bank and FocusEconomics calculations.
|Bond Yield||6.69||0.15 %||Dec 17|
|Exchange Rate||59.88||0.45 %||Dec 30|
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August 12, 2022
Consumer prices soared 7.41% from the previous month in July, accelerating from the 5.30% rise logged in June.
August 11, 2022
Industrial output grew 6.9% in year-on-year terms in June, which was a deterioration from May's 12.1% increase.
August 10, 2022
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August 5, 2022
On 28 July, the Central Bank of Argentina (BCRA) decided to hike the LELIQ rate to 60.00% from 52.00% in a bit to tame inflation.
August 4, 2022
The Universidad Torcuato di Tella (UTDT) consumer confidence index decreased to 34.7 in July from 39.1 in June.