The central bank of Argentina raised its “Leliq” interest rate by 950 bps to 69.5% on August 11th, bringing borrowing costs to the highest since October 2019. It was the eighth hike this year aiming to ease inflationary pressures in the midst of an economic crisis. Argentina's annual inflation rate is seen at an unprecedented 70.8% in July and is expected to remain high in August. Economy minister Sergio Massa announced measures intended to ensure fiscal austerity and to shore up dwindling foreign currency reserves and the government expects a sharp reduction in spending on energy imports in the second half of the year. source: Central Bank of Argentina
Interest Rate in Argentina averaged 61.24 percent from 1979 until 2022, reaching an all time high of 1389.88 percent in March of 1990 and a record low of 1.20 percent in March of 2004. This page provides the latest reported value for - Argentina Money Market Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Argentina 7-Day Leliq Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Interest Rate in Argentina is expected to be 69.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Argentina 7-Day Leliq Rate is projected to trend around 78.00 percent in 2023 and 70.00 percent in 2024, according to our econometric models.