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 lowered its benchmark interest rate by 300bps to 32% on December 5, 2024, as inflation expectations fell. The decision followed the release of a market expectations survey by the central bank, in which analysts reduced their inflation forecasts for the year, projecting a rate of 118.8% by year-end and reflecting confidence in the country's improving inflation outlook. In October, the annual inflation rate in the nation was at 193%, the lowest level in eleven months, and marked the sixth successive month of easing cost pressure. Thursday's move marked the eighth rate reduction since President Javier Milei assumed office in December 2023, seen as a part of a broader strategy to support the weak economy. The South American GDP shrank by 1.7% yoy in Q2 of 2024, pointing to the fifth quarter of contraction, mainly due to declines in manufacturing production, construction, and wholesale & retail trade.