After the dissemination of the data inflation of April, the Banco Central (BCRA) defined a new rise in the interest rate. A) Yes, raised from 47% to 49% the performance of the Liquidity Bills (Leliq) at 28 days, which works as a reference for the rest of the financial system.
This is the fifth rate hike carried out by the BCRA so far in 2022 (and the sixth in a row, taking into account the November increase), in line with inflation that does not yield and with the commitment assumed by the Government before the IMF: maintain positive real rates in local currency. The returns are compared with inflation projections that are already at 65% for the end of this year.
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The projections of analysts expected a rise of close to 200 basis points in the BCRA’s reference rate in response to the acceleration in prices, as the Central Board’s board of directors ended up deciding.
The reference rate looks for the performance of deposits in local currency is attractive for savers, so that they leave their pesos in banks instead of using them to buy goods or dollars.
How much will the fixed terms pay?
In addition to increasing the reference rate, the BCRA increased the yield on Fixed deadlines.
- For human persons, the new floor was set at 48% per annum for 30-day deposits up to $10 million, which represents a yield of 60.1% annual effective rate (TEA).
- For him rest of deposits fixed-term from the private sector guaranteed minimum rate was set at 46%which represents an Annual Effective Rate of 57.1%.