News of rates

Central Bank lowers rate to 32% on price expectations

06-12-2024 00:10 Argentina’s Central Bank cut its benchmark interest rate by 300 basis points to 32 percent as inflation expectations fall.

POVERTY IN ARGENTINA

Extreme poverty soars to affect six million, study shows

12-11-2024 14:19 Destitution rates have grown much faster than poverty in recent years in Argentina. According to a study by the University of Buenos Aires based on government data, more than six million people were not meeting daily nutritional needs in the first quarter of the year.

by Agustina Bordigoni

MONETARY POLICY

Central Bank lowers benchmark rate to 35% from 40%

01-11-2024 12:46 Argentina’s Central Bank lowers benchmark interest rate for the first time in nearly six months.

TELECOM

Government removes price caps on cable, mobile phone and Internet rates

27-06-2024 16:49 Companies may now set uncapped increases, measure taken by ENACOM is effective immediately; Recent study showed that 67.5 percent of Argentine homes took steps to reduce the costs of telecommunications services.

MONETARY POLICY

Central Bank cuts interest rate for sixth time to 40% as inflation slows

14-05-2024 20:32 Argentina cut its benchmark interest rate Tuesday for a sixth time under President Javier Milei.

INTEREST RATES

Central Bank cuts rates to 50% as Milei wrestles inflation down

02-05-2024 14:04 Central Bank cuts key interest rate for the third time in three weeks as officials bet on a sustained slowdown in consumer prices.

INTEREST RATES CUT

Central Bank lowers key rate to 60%

25-04-2024 15:07 Policymakers at Argentina’s Central Bank lower interest rates to 60% from 70% as officials bet on a sustained slowdown of inflation.

ECONOMIC INDICATORS

Central Bank cuts interest rate to 70%, markets see inflation easing

12-04-2024 10:22 Argentina’s Central Bank cuts main interest rate to 70% from 80% – the third time since President Javier Milei took office.

UTILITY RATES

Bye subsidies, hello soaring prices: Sharp gas increases on way

27-03-2024 16:13 First update will be applied in April; the following between May and September and the last one from October to December. Strong impact on high income households, shops and industries.

ECONOMIC INDICATORS

Brazil economy grew 2.9% in 2023, says official data

01-03-2024 16:08 Brazil's economy expanded 2.9% in 2023 after a fourth quarter of zero growth, according to data released Friday by the IBGE national statistics agency.

MARKETS

Latin America’s quasi-sovereign companies attract bond investors

19-02-2024 14:09 State-owned companies across Latin America face falling output, cash woes and expensive investment plans. Yet bondholders can’t get enough.

ECONOMIC INDICATORS

Brazil’s economic activity caps 2023 with better-than expected growth

19-02-2024 14:05 Brazil’s economy grew more than expected in December, indicating activity is still showing some resilience to high interest rates as President Luiz Inacio Lula da Silva readies higher government spending.

POLITICS & ECONOMY

Milei squeezes governors, eliminates transport subsidies to inland provinces

08-02-2024 17:02 In the midst of the war with governors after the failure of his reform bill, president moves to eliminate subsidies overnight; Fares set to soar as provinces face funding shortfall.

Transportation

Porteños told to register SUBE cards with authorities before fare hikes

23-01-2024 14:42 Buenos Aires City Transport Ministry warns porteños that fares will cost more than 400 pesos for those using unregistered cards – how to register your SUBE before April to avoid paying more.

MONETARY POLICY

Central Bank cuts key rate to 100% by swapping main policy tool

19-12-2023 08:25 Central Bank changes benchmark tool for monetary policy, replacing four-week notes with one-day transactions in a bid to lower borrowing costs.

INTEREST RATES

Central Bank hikes rate to 133% on inflation data

12-10-2023 23:39 Argentina’s Central Bank sharply raises key rate to 133%, sixth hike this year.

MONETARY POLICY

Central Bank likely to hold rate despite inflation spike

09-10-2023 21:04 Argentina’s Central Bank board plans to keep its benchmark interest rate unchanged despite inflation data hovering around a three-decade high.

POLICYMAKERS MEET

Central Bank to keep key interest rate unchanged despite surging inflation

14-09-2023 00:46 Central Bank board will likely keep its key interest rate unchanged because policymakers expect slowing price pressures later on in the year.

ECONOMIC INDICATORS

Brazil inflation accelerated in August to 4.61%

12-09-2023 14:54 Brazil’s inflation rate rises for second straight month in the wake of trimming of rates by central bank, but food prices decrease.

DEFAULT ON THE CARDS?

Argentina vote shock leaves investors dreading the next default

16-08-2023 14:05 Investors are fretting about the implications of negotiating with little-known populist Javier Milei when an all-but-inevitable deby restructuring process comes.

Economy

Brazil’s economic activity tumbles past all forecasts

17-07-2023 19:57 Brazil's economy shrank more than expected in May, but President Lula's government's reforms and anticipated rate cuts have raised investor optimism.

MONETARY POLICY

Central Bank expects to hold benchmark rate through primary vote

05-07-2023 22:34 Economists surveyed by Argentina’s Central Bank see prices rising 149% annually by the end of this year and a 3% contraction in GDP.

ECONOMIC POLICY

First South American central bank to cut says caution needed

09-06-2023 12:31 Uruguay to keep restrictive policy even with more rate cuts; Economy will probably grow around 2% this year.

ECONOMIC INDICATORS

Brazil’s economic growth bounces back under Lula

01-06-2023 12:39 Brazil’s economy roared back in the first months of 2023, lifted by bumper harvests that outweighed the drag of double-digit borrowing costs.

BLOOMBERG - ANALYSIS

JP Spinetto: Lula’s dreams ignore Brazil’s economic reality

31-05-2023 21:01 Brazil’s president talks a lot about the need for a united political front in Latin America, but he should focus on trade and economic integration.

CURRENCY CONTROLS

CNV removes loophole with new MEP, CCL restrictions

25-05-2023 16:39 Government tightens ‘cepo’; Officials want to remove loopholes enabling purchasing of cheap dollars on the stock market in order to resell them at a higher price at Central Bank’s expense.

FIGHT AGAINST INFLATION

Central Bank ramps up interest rate to 97% as inflation soars

15-05-2023 14:37 Argentina's Central Bank hiked its base interest rate Monday by six points to 97 percent, the first in a series of measures to tackle soaring inflation ahead of October's general election.

MONETARY POLICY

Central Bank to boost rates by 600 basis points as inflation soars

14-05-2023 11:55 Economy Minister Sergio Massa to announce new set of emergency measures, including raising Central Bank's key interest rate by 600 basis points to 97%.

INTEREST RATES

Brazil holds interest rate, citing 'resilient' inflation

04-05-2023 11:11 Brazilian Central Bank resists pressure from President Lula to trim interest rates and announces hold for six straight time.

MONETARY POLICY

Central Bank sharply raises key rate to 91% amid peso slump

27-04-2023 15:33 Central Bank dramatically raises benchmark interest rate by 1,000 basis points, boosting key Leliq rate to 91% in bid to cope with inflation and economic crisis.

MONETARY POLICY

Central Bank lifts rate to 81% as inflation jumps

20-04-2023 15:58 Argentina's Central Bank raises its benchmark interest rate by 300 basis points to 81% in response to March inflation data.

URUGUAY

Uruguay leads Latin America with first rate reduction

19-04-2023 21:06 Uruguay becomes first inflation-targeting country in Latin America to start lowering borrowing costs after economy entered technical recession towards end of last year.

EXCHANGE MARKETS

'Blue dollar' hits 420 – the reasons behind exchange rate turbulence

19-04-2023 12:31 Argentina’s complicated exchange rate spectrum was hit by further turbulence on Tuesday. The reasons behind the instability, according to the experts.

by Santiago Escobar

REGIONAL ECONOMY

Latin America’s policy-makers warn investors of long fight against inflation

17-04-2023 17:08 Battle against inflation will take longer than expected, the region top economic authorities said at IMF Spring Meetings.

MONETARY POLICY

Central Bank to hold benchmark rate despite March inflation fears

12-04-2023 22:59 Argentina’s Central Bank is set to keep its benchmark interest rate unchanged, despite expectations that upcoming inflation data will show prices accelerated last month.

Bloomberg

Brazil’s inflation expectations level off after fiscal plan

03-04-2023 12:08 President Luiz Inácio Lula da Silva’s government presents a highly-anticipated fiscal rule proposal to help control the growth of public debt.

NEW RATE ON WAY

Massa announces new 'dolár agro' exchange rate

30-03-2023 23:20 Argentina looks set to unveil yet another new exchange rate – Sergio Massa's new 'agro dollar' will be used for agricultural products and is another bid to boost Central Bank reserves.

CENTRAL BANK

Argentina raises key rate to 78% for first time since September

16-03-2023 17:43 Argentina raised its benchmark rate on Thursday for the first time since September after annual inflation surpassed 100%.

CENTRAL BANK

Argentina considers first rate hike since September after inflation hit 103%

16-03-2023 08:58 Argentina’s Central Bank is considering raising its benchmark rate for the first time since September, according to two people with direct knowledge.

DEBT DEBATE

UN development chief sounds alarm over debt distress

06-03-2023 12:23 A top United NAtions official has warned that "urgent" measures are needed to help 52 countries, including Argentina, facing debt repayment problems that put some at risk of default.

BLOOMBERG - ANALYSIS

Argentina is buckling under strain of US$174-billion debt mountain

10-02-2023 14:36 Cut off from global credit markets, Argentina’s government is selling ever more local currency bonds, amassing a debt load that already totals 33 trillion pesos and is rising almost exponentially.

BRAZILIAN ECONOMY

Brazil holds rates and sounds the alarm on rising inflation bets

02-02-2023 00:03 Brazil’s Central Bank kept its key interest rate unchanged and expressed concern about the costs of taming rising inflation expectations that have been fuelled by tensions with President Luiz Inácio Lula da Silva’s new government.