Argentina adopts new policy rate

BCRA will use overnight reverse repo rate after halting auctions of Leliq bonds

Central Bank of Argentina
Central Bank of Argentina
Banco Central de la República Argentina

Argentina’s central bank has significantly changed its monetary policy framework, selecting a new key rate and ending its issue of a short-term debt instrument.

The central bank’s newly appointed board has dropped the rate on Leliq short-term debt instruments, adopting the overnight reverse repo rate, it announced on December 18. The Central Bank of Argentina (BCRA) also announced it would stop auctioning Leliqs, which have been a significant liability on its balance sheets.  

The change equates

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