Central Bank of Argentina raises benchmark rate to 40% and redesigns financial instruments

© Archyde.com / AGUSTIN MARCARIAN
Passersby walk in front of Argentina’s central bank in the financial district of Buenos Aires

BUENOS AIRES, Jan 6 (Archyde.com) – Argentina’s central bank (BCRA) decided on Thursday to increase its benchmark rate by two percentage points, to 40% annually, and ordered a general redesign of monetary policy instruments to strengthen the conditions of macroeconomic stability, according to an official report.

The entity also ordered an increase in fixed terms to 39% guaranteed for human persons, up to 10 million pesos, while it created a 180-day “Leliq” liquidity bill with a yield of 44%, to make it disappear progressively passes to seven days.

(Reporting by Jorge Otaola; Edited by Lucila Sigal)