The central bank of Argentina raised its "Leliq" interest rate by 600 bps to 97% on May 15th 2023, pushing borrowing costs to their highest level recorded after a 1000 bps rate hike on April 27th. The decision was made as an emergency move to stop a sharp decline of pesos in parallel markets with the objective of saving the local currency as it lost 20 percent of its value against the dollar in a single week in mid-April. Argentina's inflation soared more than expected to 108.8% in April on an annual basis, and hit 8.4% on a monthly basis, the highest level in two decades. The monetary authority has implemented new restrictions for companies, including an extended wait time to receive dollars at the regulated, cheaper rate. source: Central Bank of Argentina

Interest Rate in Argentina averaged 61.46 percent from 1979 until 2023, 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 June of 2023.

Interest Rate in Argentina is expected to be 81.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Argentina 28-Day Leliq Rate is projected to trend around 50.00 percent in 2024 and 30.00 percent in 2025, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
Argentina 28-Day Leliq Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-04-20 07:40 PM 81% 78%
2023-04-27 04:30 PM 91% 81%
2023-05-15 02:05 PM 97% 91%


Related Last Previous Unit Reference
Interest Rate 97.00 91.00 percent May 2023
Interbank Rate 70.60 68.40 percent Apr 2023
Money Supply M0 5366598.00 5369482.00 ARS Million Apr 2023
Money Supply M1 8149683.60 8603261.70 ARS Million Mar 2023
Money Supply M2 13436941.80 13551717.20 ARS Million Mar 2023
Money Supply M3 25651936.20 24484212.60 ARS Million Mar 2023
Deposit Interest Rate 92.08 92.08 percent Jun 2023
Central Bank Balance Sheet 36109915539.00 33524184059.00 USD Million Apr 2023

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
97.00 91.00 1389.88 1.20 1979 - 2023 percent Daily

News Stream
Argentina Lifts Key Rate by 1,000 bps, Marking 2nd Hike in April
The central bank of Argentina raised its "Leliq" interest rate by 1000 bps to 91% on April 27th 2023, bringing borrowing costs to their highest level recorded after a 300 bps rate hake on April 20th. The decision was made as an emergency move to stop a sharp decline of pesos in parallel markets with the objective of saving the local currency while annual inflation skyrocketed above 100%. Argentina's inflation surged more than expected to 104% in March on an annual basis, and hit 7.7% on a monthly basis, the highest level in two decades. The monetary authority has implemented new restrictions for companies, including an extended wait time to receive dollars at the regulated, cheaper rate.
2023-04-27
Argentina Hikes Key Rate to 81%
The central bank of Argentina raised its "Leliq" interest rate by 300 bps to 81% on April 20th 2023, bringing borrowing costs to their highest level since late September 2019, "in order to maintain the incentive to save in pesos". The decision came on the back of a sharp rise in the parallel US dollar exchange rates, a persisting decline in international reserves and galloping inflation. Argentina's inflation surged more than expected to 104% in March on an annual basis, and hit 7.7% on a monthly basis, the highest level in two decades. The monetary authority also implemented new restrictions for companies, including an extended wait time to receive dollars at the regulated, cheaper rate.
2023-04-21
Argentina Holds Interest Rate at 78%
The central bank of Argentina kept its "Leliq" interest rate unchanged at 78% on April 13th 2023, maintaining borrowing costs at their highest level since September 2019. It follows another steep 300 bps rate hike in March, after headline inflation surged above 100% for the first time since the end of hyperinflation in the early 90s. The central bank reportedly would look at inflation data for March and could then consider a rate hike depending on if, and by how much, the monthly price rise topped expectations of around 7%. The annual inflation rate is expected to accelerate further to 103% in March, from 102.5% in the prior month; and monthly inflation to rise further to 7.1% from 6.6% in February.
2023-04-14