The Central Bank reported that its board of directors, at the usual Thursday meeting, decided to raise the monetary policy interest rate by 1,000 basis points, which serves as a reference for the entire economy. In this way, the nominal rate for the 28-day Leliq will go from 81% to 91%, in the search to establish yields that are equal to the growing inflation, which in March reached 7.7%.
The same interest rate will be applied to fixed terms for individuals, which will yield 91% nominal and 141% per year in effective terms, that is, if the depositor reinvests the capital and interest every month for a year. .
“The decision of the monetary authority is based on the objective of tending towards positive real returns on investments in local currency and acting to preserve monetary and financial stability. The BCRA will continue to monitor the evolution of the general price level, the dynamics of the financial and exchange markets, and of the monetary aggregates for the purpose of calibrating its rate policy,” the BCRA said in a statement.
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