The Board of Directors of the Central Bank of the Argentine Republic (BCRA) resolved to reduce the monetary policy rate from 40% to 35% TNA, effective today. The BCRA also resolved to reduce the interest rate on active passes from 45% to 40% TNA.
The BCRA’s decision is based on consideration of the liquidity context, the observed decrease in inflation expectations expressed both in the REM and in the levels implicit in the secondary market for securities, and in the strengthening of the fiscal anchor.
