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.

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Argentina 28-Day Leliq Rate



Related Last Previous Unit Reference
Interest Rate 75.00 69.50 percent Sep 2022
Interbank Rate 57.68 43.30 percent Aug 2022
Money Supply M0 4191384.00 4316999.00 ARS Million Aug 2022
Money Supply M1 6172867.90 5975505.80 ARS Million Jul 2022
Money Supply M2 9375021.00 9203758.60 ARS Million Jul 2022
Money Supply M3 16849914.50 16175824.30 ARS Million Jul 2022
Deposit Interest Rate 70.03 70.03 percent Sep 2022
Central Bank Balance Sheet 17112974.18 17308833.98 USD Million Feb 2022

Argentina 28-Day Leliq Rate
In Argentina, Money Market Rate decisions are taken by The Central Bank of Argentina (Banco Central de la República Argentina, BCRA). Through December 31, 2016, the interest rate used for monetary policy was BCRA bills (LEBAC). From January 2, 2017 until a change in 2018, it was the median of the repo corridor. As of August 8, 2018, the monetary policy reference rate was the 7-day Liquidity bills rate (LELIQ). Since April 2019, the Bank started setting the floor rate for LELIQ. Starting January 21, 2021, the BCRA offers LELIQs for 7 and 14-day periods. As of January 6, 2022, the interest rate used for monetary policy, changed to LELIQs 28-day period.
Actual Previous Highest Lowest Dates Unit Frequency
75.00 69.50 1389.88 1.20 1979 - 2022 percent Daily

News Stream
Argentina Raises Interest Rate to 75%
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.
2022-09-15
Argentina Raises Interest Rate by 950 bps
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.
2022-08-11
Argentina Hikes Interest Rate to 52%
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.
2022-06-16