1) #Argentina’s @BancoCentral_AR kept the interest rate at 27.25% today, though it continued to argue that recent worrisome inflation data reflected short-term phenomena, including utility price hikes and a weakening peso.
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2) Indeed, the utility price hikes slow in April; wage negotiations are largely reflecting the 15% inflation target; and the @BancoCentral_AR has returned to a dirty float to defend the peso.
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3) A
@jpmorgan report raised questions about the@BancoCentral_AR’s approach, given#Argentina’s relatively low reserves. But Itau analysts noted that “the interventions are complementary and not substitute of the monetary policy.”Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo
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