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The central bank raised the rate on 28-day LELIQs from 52% to 60% and lifted minimum deposit rates. It cited price volatility and financial fluctuations unrelated to Argentina's fundamentals, and said it would accelerate normalizing the policy rate.
Higher peso interest rates tend to support the currency and reduce pressure on the official exchange rate. A firmer peso can slow Argentine export selling of grains and meal, modestly supporting world prices.
bcra.gob.arWinograd ErickJul 28, 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.
