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.
Show this thread
-
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.Show this thread
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.”
