Argentina adopts new policy rate
BCRA will use overnight reverse repo rate after halting auctions of Leliq bonds
Argentina’s central bank has significantly changed its monetary policy framework, selecting a new key rate and ending its issue of a short-term debt instrument.
The central bank’s newly appointed board has dropped the rate on Leliq short-term debt instruments, adopting the overnight reverse repo rate, it announced on December 18. The Central Bank of Argentina (BCRA) also announced it would stop auctioning Leliqs, which have been a significant liability on its balance sheets.
The change equates
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