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Argentina's Monetary Policy Council says the central bank is overcomplying with its monetary base target. The benchmark interest rate rose 13.5 percentage points since end-February to 63.66%.
The bank plans further measures to tighten control of monetary aggregates and curb inflation.
Sharply higher interest rates make it costlier for Argentine crushers and feed mills to finance operations, which can slow domestic demand for soymeal and corn. Tighter policy also supports the peso, which can encourage faster export sales from farmers.
bcra.gob.arSosa RodrigoMar 14, 2019Not 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.
