Central Bank of the country has announced a new reduction in interest rate, which is 29% per year; retreat occurs with slowdown in inflation
Argentina’s basic interest rate has retreated 104 percentage points since economist Javier Milei took over as president of Argentina on December 10, 2023. Libertarian took the country with base interest at 133% per year.
On Thursday (30.jan.2025), it announced a new drop in 3 percentage points. With this, the rate went from 32% to 29% per year.
The monetary authority argued that there was “Low inflation expectations”. This is the (PDF – 178 kb in Spanish) of the statement.
Read the trajectory of the basic Argentine interest rate:
RIGOR FISCAL
Milei implemented spending cut to from 18 to 9 in his 1st Decree as Head of State. The Argentine president also interrupted most public works and reduced the transfer of funds to provinces and areas such as education and health.
He also barred the increase for retirees. The drastic reduction of expenses was a campaign promise.
Symbolism has given rise to the chainsaw several times. The measures have taken the country a.
Slowing inflation
Argentina inflation at 211.4%. The annualized rate reached the peak in April (289.4%), but then continuously slowed up to 117.8%.
The result is 93.6 percentage points below that recorded in 2023, according to data from the INDEC (National Institute of Statistics and Census) here is the report (PDF – 883 KB in Spanish).
