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Milei Says Interest Rate Will Be Cut Again When Inflation Next Falls

ARGENTINA
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  • President Milei said yesterday that in order to clean up the central bank’s balance sheet, the interest rate will be cut further the next time that inflation falls. April CPI data are due to be released on May 14. Milei also said that the quasi-fiscal deficit had fallen from 10% of GDP to 4% and will drop another 1% once the interest rate is reduced again.
  • On the data front today, consumer confidence edged up to 37.17 in April from 36.68, keeping it at a low level, marginally above January’s 12-month low of 35.6. Looking ahead, February wage figures are published tomorrow, followed by April tax revenue next week.
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  • President Milei said yesterday that in order to clean up the central bank’s balance sheet, the interest rate will be cut further the next time that inflation falls. April CPI data are due to be released on May 14. Milei also said that the quasi-fiscal deficit had fallen from 10% of GDP to 4% and will drop another 1% once the interest rate is reduced again.
  • On the data front today, consumer confidence edged up to 37.17 in April from 36.68, keeping it at a low level, marginally above January’s 12-month low of 35.6. Looking ahead, February wage figures are published tomorrow, followed by April tax revenue next week.