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1) Unexpectedly, @BancoCentral_AR raised interest rates today (to 30.25% from 27.25%), after a meeting "fuera de su cronograma preestablecido" that addressed recent peso depreciation. http://www.bcra.gov.ar/Noticias/Comunicado_de_Pol%C3%ADtica_Monetaria.asp … #Argentinapic.twitter.com/3CdcQlCh1U
2) As we discussed earlier, analysts had warned that @BancoCentral_AR's foreign exchange holdings were inadequate to continue defending the peso. The monetary authority has sold $5.5 billion since March, leaving only $33 billion in net reserves, according to Itau.
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