The BCRA Raises the Yield on Time Deposits

The Board of the BCRA has increased to 78% APR the yield on time deposits made by natural persons up to ARS10 million, and to 69.5% APR on all other time deposits.

Moreover, the BCRA has kept unchanged the regulated interest rates on preferential credit lines channeled to MSMEs and credit cards.

The interest rates on monetary policy instruments have been readjusted in order to support the rise in yield on time deposits and on credit lines. The overnight reverse repo interest rate remained unchanged standing at 72% APR, and the interest rate on 28-day LELIQs has been raised to 78% APR.

The BCRA will keep on monitoring the development of the general level of prices, the forex market dynamics, and the monetary aggregates to calibrate the interest rate policy.

March 16, 2023

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