# The BCRA continues with the process to normalize the monetary policy rate | BCRA

> 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.

- Date: 2022-08-11 · published 2022-08-11T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/40325-the-bcra-continues-with-the-process-to-normalize-the-monetary-policy-rate-bcra
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

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.

## Read by commodity

- USDARS: bearish ▼

## Sources

- bcra.gob.ar: https://www.bcra.gob.ar/en/news/the-bcra-continues-with-the-process-to-normalize-the-monetary-policy-rate/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.