Macroeconomy/Finance

BCRA cuts benchmark rate for 5th time since December to 48%

Argentina’s Central Bank (BCRA) lowered the benchmark interest rate floor (Leliq) to 48% from a previous 50%, the fifth cut in under two months aiming at overcoming recession and lowering inflation. In that period Leliq has been lowered by 15 percentage points. Banks have been responding positively with loans to SMEs below expected inflation and personal credit lines with rates of around 45%.

Source: BAE Negocios