Central bank lowers interest rate to 40%, 23 points in two months

Argentina’s central bank (BCRA) cut to 40% from 44% the benchmark interest rate (Leliq), the seventh time in 70 days since president Alberto Fernández took office in December. “The decision was taken based on the deceleration in the inflation rate, and the prospect of this trend continuing,” the bank said in its statement. On another resolution the BCRA put a cap of 55% to credit card interest.

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%.

Central Bank cuts benchmark interest rate to 50% from 52%

Argentina's central bank (BCRA) has cut its reference interest rate floor (Leliq) to 50% from 52%. Since December 19 to date, Fernández administration has lowered the interest rate by 13 percentage points. The BCRA also enabled a new 90-day fixed-term deposit in pesos that will be adjusted by the inflation rate and to which each bank will add a surcharge of at least 1%.

Central Bank cuts benchmark interest rate to 52% from 55%

Argentina’s central bank (BCRA) has decided to cut its benchmark interest rate (Leliq) to 52% from 55%, the third such cut in less than a month, and part of an effort to revive Latin America’s No. 3 economy. The first one was on December 19, when it brought the rate to 58% from 63% inherited from the previous administration, and the second, on December 26, when reduced to 55%.

Central Bank seeks to reduce rates in January

Argentina’s new central bank president, Miguel Pesce, pledged to further cut interest rates in January (currently at 55%) to boost a free-falling economy while fighting inflation through a “social pact” that would encourage companies to raise production rather than prices. He said that the BCRA will continue with the controls of the exchange market and anticipated that it will extend the 7-day term of the Leliq treasury bills.