Report

BCRA keeps aggressive rate cuts going despite rising FX market pressure

- BCRA cut to 18-month low of 44%, reports of low February inflation may trigger more action
- But BCRA having to sell FX in spot market at unsustainable rate suggests no more room for cuts
- BCRA validated 2.0% depreciation in three weeks, could hurt confidence in capital controls
- FX risks to remain high as seasonal demand for money declines towards May minimum
Provider
CEEMarketWatch
CEEMarketWatch

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