The central bank of Argentina raised its Leliq interest rate by 550bps to 75% on September 15th, lifting borrowing costs to their highest level since October 2019. It was the ninth rate hike this year as the central bank combats inflationary pressure in the midst of an economic and currency crisis, as the peso continued to slip to record lows. Argentina’s annual inflation rate was last recorded at 78.5% in August, with local economists forecasting price growth to top 100% by the start of next year. The hike was broadly expected as central bank President Pesce and Economy Minister Massa confirmed their intent to maintain positive real interest rates, a necessary condition for the country to receive $44 billion in bailouts from the IMF. source: Central Bank of Argentina
Interest Rate in Argentina averaged 61.25 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 28-Day Leliq Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Interest Rate in Argentina is expected to be 75.00 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 78.00 percent in 2023 and 70.00 percent in 2024, according to our econometric models.