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The BCRA raised its monetary policy rate by 950 basis points, lifting the 28-day LELIQ rate from 60% to 69.5%. It also raised minimum interest rates on peso time deposits to support savings in pesos.
Higher peso rates aim to curb dollar demand and stabilise the currency, which can slow farmer selling of crops in dollar terms. The effect on feed commodity prices is indirect and mostly through the exchange rate.
bcra.gob.arWinograd ErickAug 11, 2022Not 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.
