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Argentina's central bank raised its benchmark interest rate by 10 percentage points to 91% on April 27, after a 300 basis point hike the week before. The move aims to curb inflation running at 104% and steady a black-market peso that has tumbled.
Tighter monetary policy may slow domestic activity and reduce pressure on the peso, but it does little to restore export earnings lost to drought, so near-term Argentine meal and grain supply remains constrained.
financialpost.comReutersApr 27, 2023After 73 past neutral macro events, Soybean Meal moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +2.1%), and -1.6% over 20.
Not 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.
