Argentina’s central bank attempts monetary balancing act

The Central Bank of Argentina
Javier Pierini

The Central Bank of Argentina (BCRA) took steps to increase the government’s access to local currency by lowering the rate it offers local banks holding its securities.

At the same time, it sought to tighten monetary policy by raising its repo rate for the second time in a week. On October 8, the central bank’s board reduced the rate it offers holders of peso-denominated securities Leliq by one percentage point to 1%.

It also increased the repo rate by 300 points to 27%. The move followed its

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