The board of the Central Bank will not adjust interest rates following statistics institute INDEC’s announcement yesterday that inflation was 5.1% for December, just 0.2% over the previous month figure. Since September 15, the Central Bank has kept the annual nominal interest rate at 75% and a 107.5% yearly effective rate. The effective monthly rate is 6.16%. In the government’s view, this would also deter flight to the US dollar and relieve pressure on the exchange rate. The monetary authority will keep using the interest rate to that end.
Source: Bueno Aires Herald January 14, 2023 00:26 UTC