Monthly

The Central Bank in the spotlight

Abril 2018

In a sudden change in policy in March, the Central Bank moved away from the floating exchange rate and decided to intervene to stabilize it at around AR$ 20.20, following three months in which the depreciation of the currency accumulated almost 20%. We believe that this change in policy will be sustained for the nex...

Where do we stand on monetary policy?

Marzo 2018

The last few months have been difficult for the Macri administration on the economic and political fronts. Its popularity dropped to the pre-October election levels of around 46% after surging in late October and November, consumer confidence suffered, and the overall mood among investors and the business community ...

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 ...

The pros and cons of changing the inflation targets

Enero 2018

December was a hectic month for Macri’s administration, with relevant news in the economic, social and political fronts. On the one hand, the Government succeeded in passing the 2018 Budget, the tax reform and the Pension Reform in the Lower House. Although it was finally approved, the Pension Reform has drawn criti...

What can we expect for the next two years

Diciembre 2017

In November the Government took advantage of the great results in general elections of October and presented a package of reforms. Some of them have been already approved by the Senate and will be discussed in the Lower House. The tax reform stands out: it includes a new financial revenues tax for individuals, chang...

The unpleasant effects of tight money

Noviembre 2017

October was a month with plenty of news, in both the political and the economic side. Regarding elections, the ruling party not only prevailed in the province of Buenos Aires, but it also won in 13 other provinces and scored the five most populated districts (Province and City of Buenos Aires, Córdoba, Santa Fe, and...

A quick look at Macri´s first two years and what comes next

Octubre 2017

September brought good news regarding economic recovery: the INDEC published the GDP figures for Q2 of 2017, which reflected the steady progress of economic activity again (0.7% q/q s.a. and 2.7% y/y). Unlike the demand’s behavior over the last few years of growth, this time investment led the recovery. However, wa...

Is Argentina facing a turn in the political cycle?

Septiembre 2017

The first half of August was marked by the primary elections, which resulted in a victory of the official party “Cambiemos” at the national level. In the Province of Buenos Aires, the final scrutiny threw Cristina Kirchner as the winner by a very small margin. However, recent polls indicate that Esteban Bullrich, th...

Medium term economic scenarios after the elections

Agosto 2017

The results of last Sunday’s primaries were music to the ears for Cambiemos, as Macri´s coalition won comfortably in three of the main districts (the city of Buenos Aires, Cordoba and Mendoza) and probably lost by a very small margin in the other two (in the provinces of Buenos Aires and Santa Fe). In addition, it a...

The exchange rate: Damn if it depreciates, damn if it doesn't

Julio 2017

The mystery was finally unveiled; Cristina is running for Senator in the province of Buenos Aires. This makes the race particularly important, and it will definitely catch the attention of most observers with an eye on the 2019 presidential election. If Cristina comes first, there will be questions about a potential...

Informes Mensuales

The Central Bank in the spotlight

The Central Bank in the spotlight

Where do we stand on monetary policy?

Where do we stand on monetary policy?

What to expect after the December shockwaves

What to expect after the December shockwaves

The pros and cons of changing the inflation targets

The pros and cons of changing the inflation targets

What can we expect for the next two years

What can we expect for the next two years

The unpleasant effects of tight money

The unpleasant effects of tight money

A quick look at Macri´s first two years and what comes next

A quick look at Macri´s first two years and what comes next

Is Argentina facing a turn in the political cycle?

Is Argentina facing a turn in the political cycle?

Medium term economic scenarios after the elections

Medium term economic scenarios after the elections

The exchange rate: Damn if it depreciates, damn if it doesn't

The exchange rate: Damn if it depreciates, damn if it doesn't

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