With each passing week the feeling that the Argentine economy is approaching the one we experienced in the eighties cannot be avoided. It does not mean that the situation will be exactly the same nor...
Higher Rate for a New Inflation Regime
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Higher Rate for a New Inflation Regime
Third week
September 2022
The Central Bank has been actively using the interest rate this year, and compared to December 2021, the 28-day Leliqs rate (that is, the monetary policy rate) went from 38 to 75%, with which it practically doubled. The latest increase, which took place last week, was of 5.5 percentage points and the new effective annual rate now stands at 107.35%. That is less than the annualized inflation for August, but it is in line with what we think will be the annualized inflation for the next 3 months. In other words, for the first time in a long time, the monetary policy rate will be neutral or slightly positive if one is somewhat more optimistic than we are with the inflation estimates.
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 El presupuesto está dibujado, pero hay alguna perlita. Los números del presupuesto presentado el viernes pasado no merecen demasiado análisis. Plantean una inflación de 70% para 2024 con un... |