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Milei Says Pace Of Peso Devaluation Could Be Reduced If Inflation Slows Sufficiently

ARGENTINA
  • Speaking on local TV over the weekend, President Milei said that the pace of peso devaluation could slow if inflation falls below a certain level, according to Bloomberg.
  • While no change in the 2% monthly crawling peg is planned soon, Milei said that the peg could slow to 1% once monthly core or wholesale inflation reaches 2%.
  • For reference, core prices rose by 3.7% m/m in May, while wholesale prices increased by 3.5% m/m.

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