Argentina is changing its monetary policy instrument

Argentina is changing the way monetary policy conducts, uniting two different benchmark rates in an attempt to reduce the cost of eliminating excess liquidity in market weights. The Argentine Central Bank (BCRA) perceives that its real monetary policy rate is somewhere between its repo and Leliq rates, or about 33%. Economy Minister Martín Guzmán said the government is looking to bring the different rates closer so that there is only a referral rate, between 32% and 33%.

Source: Infobae