Argentine central bank intervenes after Milei win
BCRA hikes rate 2,100bp and devalues peso after central bank opponent leads primary elections
The Central Bank of Argentina (BCRA) raised its Leliq policy rate by 21 percentage points, to 118%, on August 14.
The BCRA’s dramatic intervention follows the shock victory of opposition legislator Javier Milei in presidential primary elections on August 13. Milei, the sole candidate of the Liberty Advances coalition, came first with just over 30% of the vote. Milei has called for the abolition of the BCRA, and has said it “makes us all poor”.
The central bank said it had acted “in line with
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