In addition, the new floor for the retail time deposit rate was set at 43.5% nominal, equivalent to 53.3% of the Annual Effective Rate (TEA).
For the rest of the private sector deposits, the minimum guaranteed rate was established at 41.5%, which represents a TEA of 50.4%.
“Lending interest rates remain at favorable levels, especially for investment and production, and the MiPyME sector. Additionally, the BCRA will continue to regulate certain key rates for family consumption,” the BCRA said in its official statement.
The monetary authority emphasized the need to have positive real returns on investments in local currency and to preserve monetary and exchange stability, all objectives set forth in the agreement with the International Monetary Fund (IMF).
This way, the rates are close to the expected inflation, which according to the latest BCRA REM is 55% for 2022, although the surprising figure for February, and the number expected for March according to recent estimates, will surely alter the projections of the next REM.
It is worth noting that the Ministry of Economy had already validated an increase in the rates of discount bills (LEDes) placed in the last debt tenders in pesos, which exceeded 57% in effective terms.
