Argentina central bank to keep powder dry for now after election surprise -sources
© Reuters. FILE PHOTO: A one hundred Argentine peso bill sits on top of several one hundred U.S. dollar bills in this illustration picture taken October 17, 2022. REUTERS/Agustin Marcarian/Illustration/File PhotoBUENOS AIRES - Argentina's central bank is planning to hold fire for now on any major policy adjustments after a shock win for the Peronist government in a general election on Sunday, two bank sources said, a sharp contrast to rapid moves after an August primary.
"I don't see it on the BCRA's agenda," one of the sources said to Reuters when asked about a potential hike to the benchmark interest rate from the current 133% level, set to help boost the peso and temper triple-digit annual inflation. A second source, a bank advisor, said the entity"trusts there will be less pressure on the dollar" with the election result, which lowers the chance of a quick devaluation and makes Milei's plans of dollarizing a more remote prospect.
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