Como era de esperar el Directorio del Fondo aprobó la revisión del programa de Argentina, aunque dejó en claro que Massa incumplió todas las metas. El FMI aplaude el esfuerzo fiscal que promete el...
What to expect after the December shockwaves
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What to expect after the December shockwaves
Febrero 2018
The year began as the previous one had finished, with a shaken exchange market and growing uncertainty as to whether inflation will be able to moderate at the desired pace.
The exchange rate continued to depreciate in January (4.7%) and so far this month has surpassed 20.00 ARS/USD, without the intervention of the Central Bank. As the entity decided to hold the policy rate in today's monetary policy meeting, it appreciated to ARS/USD 19.89. Policy rate is expected to remain at this level for at least Apr-17 to reduce the impact of adjustments in regulated prices. Also, inflation expectations increased in Jan-18 and reached 19.4% for this year. Wage agreements are coming and the Central Bank should have a cautious stance.