Both types of instruments adjustable by the Reference Stabilization Coefficient (CER) increased in the last month (30-day moving average): the rise was 7.8% for traditional placements and 12.8% for pre-cancellable loans, with data as of 19 april.
For 2022, specialists consulted by the Central Bank in the Survey of Market Expectations (REM) project an inflation of 59.2%.
The types of forward instruments adjustable by the Reference Stabilization Coefficient that exist are traditional and pre-cancelable. The former are instrumented in pesos and converted into UVA at the time of placement. At the end of the immobilization period, the accrued interest is calculated and the updated capital is converted according to the current UVA value (whose price is continuously updated according to the CER).
The minimum placement term for this instrument is 90 days.
Term deposits in UVA with the option of early cancellation also have a term of 90 days, but the saver can make use of the option of pre-cancellation from the 30th. The bowl that these instruments pay is different if it is prepaid or if it is held until maturity.
In the first case, the annual nominal interest rate is fixed in pesos and currently stands at 41% (the annualized effective rate is 49.66%). In the second case, and in the case of human persons, an interest rate is paid guaranteed minimum UVA + 1%.
