Argentina Interest Rate

Last Release

Nov 05, 2024

Actual

Units In

Frequency

Daily

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
1,389.88 Mar 1990	1.2 Mar 2004	64.19 %	1979-2024	Central Bank of Argentina

In Argentina, Money Market Rate decisions are taken by The Central Bank of Argentina (Banco Central de la República Argentina, BCRA). On August 2018, the seven-day ‘Liquidity Notes,’ or Leliq replaced the yield on the 35-day Lebac bonds introduced in December of 2015 as the benchmark policy rate. On September 28th 2018, the central bank implemented a new monetary policy framework with a goal of zero growth of the monetary base from October 2018 until June 2019, as part of the USD 57 billion financing deal with the IMF. .

Latest Updates

Argentina’s central bank cut its benchmark interest rate by 500 basis points to 35% on November 1, 2024 reflecting optimism about controlling the country’s severe inflation. This marks the seventh rate cut since President Javier Milei took office in December, when inflation was 133%. Milei’s administration has focused on tackling inflation, which has significantly dropped from over 25% monthly in late 2023 to around 3.5% in recent months. The central bank’s decision is based on improved liquidity and reduced inflation expectations, supported by Milei’s fiscal policies, which aim to tighten government spending. However, the sharp budget cuts have also caused economic slowdown and raised poverty levels above 50%. Despite annual inflation remaining over 200%, it has consistently decreased, reaching its lowest level since 2021. Additionally, Argentina’s tax amnesty program attracted $18 billion back to local banks, extending the program until November 8.