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Argentina's central bank cut its policy rate to 28% from 28.75%, its first cut in 14 months. It also set a 2018 inflation target of 15% and new targets of 10% for 2019 and 5% for 2020.
Lower rates and a looser inflation path tend to weaken the peso, which can encourage Argentine oilseed exporters to sell and weigh on soymeal export prices.
en.mercopress.comJan 10, 2018Not enough comparable past events yet for a historical read.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
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.
