The central bank of Argentina raised its “Leliq” interest rate by 300 bps to 52% from 49% on June 16th, the sixth hike this year, after data showed strong inflationary pressures persisted. Policymakers cited rising perception of financial risk, soaring global prices and the need to spur saving in the hard-hit local peso currency. The central bank said that inflation appeared to be slowing down and that it expected monthly inflation to “continue to decline gradually” after hitting a peak in March. The monthly inflation rate in Argentina eased for the second straight month to 5.1% in May of 2022, just below market forecasts of 5.2%; but the annual rate accelerated for the fourth straight month to hit 60.7% in May of 2022, the steepest since January of 1992 and slightly above market estimates of 60.6%. The central bank said it would continue to calibrate monetary policy with an eye on inflation. 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 July of 2022.
Interest Rate in Argentina is expected to be 52.00 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 45.00 percent in 2023 and 40.00 percent in 2024, according to our econometric models.