Argentina’s central bank lowered its benchmark interest rate by 300bps to 32% on December 5, 2024, as inflation expectations fell. The decision followed the release of a market expectations survey by the central bank, in which analysts reduced their inflation forecasts for the year, projecting a rate of 118.8% by year-end and reflecting confidence in the country's improving inflation outlook. In October, the annual inflation rate in the nation was at 193%, the lowest level in eleven months, and marked the sixth successive month of easing cost pressure. Thursday's move marked the eighth rate reduction since President Javier Milei assumed office in December 2023, seen as a part of a broader strategy to support the weak economy. The South American GDP shrank by 1.7% yoy in Q2 of 2024, pointing to the fifth quarter of contraction, mainly due to declines in manufacturing production, construction, and wholesale & retail trade. source: Central Bank of Argentina

The benchmark interest rate in Argentina was last recorded at 32 percent. Interest Rate in Argentina averaged 23.24 percent from 2005 until 2024, reaching an all time high of 126.00 percent in October of 2023 and a record low of 3.25 percent in June of 2005. This page provides the latest reported value for - Argentina Money Market Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Argentina Overnight Repo Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.

The benchmark interest rate in Argentina was last recorded at 32 percent. Interest Rate in Argentina is expected to be 25.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Argentina Overnight Repo Rate is projected to trend around 10.00 percent in 2025, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-04-11 06:00 PM Interest Rate 70% 80%
2024-05-02 03:30 PM Interest Rate 50% 60%
2024-05-15 02:15 AM Interest Rate Decision 40% 50% 40.0%


Related Last Previous Unit Reference
Central Bank Balance Sheet 113759043.36 106679939.50 USD Million Dec 2024
Deposit Interest Rate 32.90 36.10 percent Dec 2024
Interbank Rate 37.43 39.76 percent Dec 2024
Interest Rate 32.00 35.00 percent Dec 2024
Money Supply M0 23823912.00 22715300.00 ARS Million Nov 2024
Money Supply M1 37267766.40 35094594.40 ARS Million Oct 2024
Money Supply M2 58752596.50 56961026.40 ARS Million Oct 2024
Money Supply M3 104215164.10 98398005.50 ARS Million Oct 2024

Argentina Overnight Repo Rate
In Argentina, Money Market Rate decisions are taken by The Central Bank of Argentina (Banco Central de la República Argentina, BCRA). Through December 31, 2016, the interest rate used for monetary policy was BCRA bills (LEBAC). From January 2, 2017 until a change in 2018, it was the median of the repo corridor. As of August 8, 2018, the monetary policy reference rate was the 7-day Liquidity bills rate (LELIQ). Since April 2019, the Bank started setting the floor rate for LELIQ. Starting January 21, 2021, the BCRA offers LELIQs for 7 and 14-day periods. As of January 6, 2022, the interest rate used for monetary policy, changed to LELIQs 28-day period. Following the central bank's new leadership formed by President Javier Milei in 2023, the central bank assumed the rate on overnight repo contracts as the country's official benchmark policy rate.
Actual Previous Highest Lowest Dates Unit Frequency
32.00 35.00 126.00 3.25 2005 - 2024 percent Daily


News Stream
Argentina Cuts Key Rate Further as Inflation Expectations Ease
Argentina’s central bank lowered its benchmark interest rate by 300bps to 32% on December 5, 2024, as inflation expectations fell. The decision followed the release of a market expectations survey by the central bank, in which analysts reduced their inflation forecasts for the year, projecting a rate of 118.8% by year-end and reflecting confidence in the country's improving inflation outlook. In October, the annual inflation rate in the nation was at 193%, the lowest level in eleven months, and marked the sixth successive month of easing cost pressure. Thursday's move marked the eighth rate reduction since President Javier Milei assumed office in December 2023, seen as a part of a broader strategy to support the weak economy. The South American GDP shrank by 1.7% yoy in Q2 of 2024, pointing to the fifth quarter of contraction, mainly due to declines in manufacturing production, construction, and wholesale & retail trade.
2024-12-06
Argentina Slashes Interest Rate by 500 bps
Argentina’s central bank cut its benchmark interest rate by 500 basis points to 35% on November 1, 2024 reflecting optimism about controlling the country’s severe inflation. This marks the seventh rate cut since President Javier Milei took office in December, when inflation was 133%. Milei’s administration has focused on tackling inflation, which has significantly dropped from over 25% monthly in late 2023 to around 3.5% in recent months. The central bank’s decision is based on improved liquidity and reduced inflation expectations, supported by Milei’s fiscal policies, which aim to tighten government spending. However, the sharp budget cuts have also caused economic slowdown and raised poverty levels above 50%. Despite annual inflation remaining over 200%, it has consistently decreased, reaching its lowest level since 2021. Additionally, Argentina’s tax amnesty program attracted $18 billion back to local banks, extending the program until November 8.
2024-11-01
Argentina Cuts Interest Rate to 40%
Argentina's central bank slashed the benchmark interest rate to 40% from 50% on May 15th, marking the sixth adjustment since December due to a slowdown in the inflation rate, bringing the rates to the lowest since June 2022. The monthly inflation rate slowed for the fourth straight month to 8.8% in April 2024 from 11% in the previous month and below market forecasts of a 9% gain. The inflation rate continued to slow from a peak last December of 25.5% after sharply devaluating the local peso currency. President Javier Milei's administration has prioritized stringent spending cuts since December to combat inflation, with his economic team forecasting monthly inflation to decrease to 3.8% by September. On a yearly basis, however, inflation accelerated to 289.4% in April from 287.9% in March.
2024-05-15