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Argentina traders bet on another big rate cut as inflation eases

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CEN,ECI,ECO

Argentine market traders are betting the central bank will cut its benchmark interest rate again this week given the slowdown in monthly inflation and a planned Treasury debt auction, two money market sources and a brokerage told Reuters on Tuesday.

A general view of the facade of Argentina's Banco de la Nacion a day after Argentina's primary elections, in Buenos Aires, Argentina August 14, 2023.

Argentina's authorities are expected to unveil inflation figures later on Tuesday, which are expected to show monthly price rises"Everything is set for the rate to continue falling this week in view of Thursday's bill tender," said one trader, who asked not to be named as they were not approved to speak publicly on the matter.The central bank directors normally convene each week on Thursday, which this week will coincide with a Treasury bill auction.

Argentina's government, under libertarian President Javier Milei, has made a major swerve in monetary policy since taking office in December, repeatedly cutting the benchmark interest rate as it has grown more bullish about inflation.sharply in a bid to undo serious distortions caused by years of capital controls that have strictly limited access to dollars.

Source: News Formal (newsformal.com)

CEN ECI ECO FRX GEN GFIN INFL INT MCE PLCY POL AMERS AR EMRG LATAM SAMER GRAPHC MTGFX ANLINS

 

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