Monday, October 2, 2023

The central bank would take measures with fixed deadlines with inflation data

While the Central Bank awaits inflation data for last August, it is waiting for this information to determine what action to take regarding fixed-term interest rates.

Apart from the statements made by the director of the financial institution, Agustín D’Attellis, that there would be “in principle no changes” to the current values, there are a number of reasons for these announcements.

Following the implementation of the PASO, the BCRA announced an increase in the annual nominal interest rate (TNA) to 118% and the annual effective interest rate (TEA) to 209%, an adjustment of approximately 21 percentage points.

The decision, which appears to have already been made, focuses on the decline of the financial dollar and the blue dollar, which is why the company would have found some relief to support this position.

According to D’Attellis: “There are always internal discussions and debates about this, but the reality is that you have to be careful not to rely on very short deadlines; That is, do not compare the inflation rate of the month with the effective monthly rate that you have left of the Leliq.”

On the other hand, a change in interest rates due to the interests of the Leliqs would mean a greater increase in the deficit and would have a strong impact on prices, which would be affected by the 22% devaluation.

The central bank would take measures with fixed deadlines with inflation data

The government announced a new bonus of $20,000

On Thursday afternoon, the Ministry of Social Development, together with the National Social Security Agency (ANSES), announced the payment of a new bonus of $20,000 for those receiving the Empower Work plan.

The Central Bank confirmed new restrictions on the savings dollar: who will not be able to buy it?

The government extended the ban on access to savings.

According to the findings, the delivery of the first installment of $10,000 will take place tomorrow and those who receive a performance presentation for working four hours a day in various ventures can receive it.

Nation World News Desk
Nation World News Desk
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