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The Central Bank of Argentina (BCRA) cut its monetary policy rate, with the reverse-repo benchmark set at 80% annual from March 12. It also ended the minimum interest rate on time deposits.
The bank cited falling retail inflation and improved liquidity conditions.
Lower rates and a calmer monetary backdrop support peso stability, which can reduce Argentine farmers' incentive to hold back soybean and corn sales and modestly ease export supply pressure.
bcra.gob.arWinograd ErickMar 11, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
