The yearly nominal rate for 28-day Liquidity Bills —the rate at which the Central Bank lends money to financial entities— is now 97%. The monthly effective interest rate is 8% — under April’s inflation rate — and 154% annually. The last time the Central Bank raised interest rates was on April 27, when it did so by 1000 basis points following a run against the peso. Friday’s inflation rates surpassed all prior predictions by consulting firms, prompting the economy ministry to respond with a series of working meetings over the course of yesterday. Other measuresYesterday’s meetings also resulted in a packet of measures that the economy ministry announced via a series of press releases.

Source: Bueno Aires Herald May 14, 2023 16:53 UTC