Central Bank of Argentina raises reserve requirements
Argentina raises reserve requirements as it continues to fight high inflation
The Central Bank of Argentina will raise its reserve requirements on bank deposits from June as it attempts to contain soaring prices, the bank announced on May 26.
For term deposits, the rate will rise from 13% to 14.5%, while sight deposits will rise from 14.5% to 17%. The bank plans to raise them by the same amounts (respectively 150 basis points and 250bp) again in July.
"The central bank probably raised reserve requirements in an effort to reduce the pace of expansion of monetary aggregates
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