Argentina Interest Rate Decision
In Argentina, the Central Bank of the Republic of Argentina (Banco Central de la República Argentina, BCRA) is in charge of determining the money market rate. In August 2018, the seven-day Liquidity Notes, also known as Leliq, took over as the benchmark policy rate from the yield on the 35-day Lebac bonds, which were first issued in December 2015. As part of the $57 billion loan agreement with the International Monetary Fund (IMF), the central bank established a new monetary policy framework on September 28th, 2018, with an aim of zero expansion in the monetary base from October 2018 to June 2019, taking effect from October 2018.
A higher than expected figure should be seen as positive (bullish) for the ARS while a lower than expected figure should be seen as negative (bearish) for the ARS.
