Argentine central bank cuts rate for 3rd straight week
Despite higher inflation expectations, Argentina's central bank cut its key interest rate for a third straight week.
The rate now stands at 25.25% after consecutive 50 basis point cuts.
In a statement on Tuesday, the central bank said it kept the rate unchanged from end-September through the first week of November "in order to avoid higher inflation during October, associated to utility rate changes, from impacting inflation subsequently."
Earlier this month, the government said inflation was 2.4% in October, above the central bank's 1.5% target. The elimination of subsidies for natural gas residential bills was blamed for the higher inflation.
The central bank said the government and private sector sources it uses to monitor prices suggest that inflation in November will be in line with its target.
Meanwhile, the Universidad Torcuato Di Tella inflation expectation index for the next 12 months rose to 25% from 20% seen in September and October.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Political Risk & Macro (Argentina)
Argentine renewables chamber, stakeholders to build legislative proposal for next govt
In related news, Tierra del Fuego province said the Asian Infrastructure Investment Bank had approved a US$65mn loan for the construction of a wind...
Lithium price collapse: end of the boom?
BNamericas talks to Chilean industry analysts about causes and consequences of the drastic decline.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: Pericones (former Monterde)
- Current stage:
- Updated:
11 hours ago
- Project: National Oncology Institute (NIO)
- Current stage:
- Updated:
11 hours ago
- Project: Lima - Ica Railway (Cercanías Train)
- Current stage:
- Updated:
12 hours ago
- Project: Integrated system of gas transport-South Zone (Sitgas)
- Current stage:
- Updated:
9 hours ago
- Project: Drinking Water System for the North Area of Asunción
- Current stage:
- Updated:
12 hours ago
- Project: Line 4 - Guadalajara light rail
- Current stage:
- Updated:
12 hours ago
- Project: Canoas wastewater treatment plant (Canoas WWTP)
- Current stage:
- Updated:
12 hours ago
- Project: Cuiabá Light Train
- Current stage:
- Updated:
1 day ago
- Project: Lins thermoelectric plant
- Current stage:
- Updated:
12 hours ago
- Project: Grota do Cirilo (Phases 2 & 3)
- Current stage:
- Updated:
12 hours ago
Other companies in: Political Risk & Macro
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Richard Hidalgo Vásconez Cía. Ltda.
- Company: Gobierno de la República de Surinam
-
The Government of the Republic of Suriname is the public administration established under its Constitution in 1987. It is composed of the President's office, integrated by the P...
- Company: Asociación de Aseguradores de Chile A.G.  (AACH)
-
Chilean Insurance Assocation A.G. (AACH) is a non-profit association, comprised of 56 insurance companies, incorporated in 1899 to promote the development and protection of insu...
- Company: Gobierno de la República de Chile