Overview
- Reports from a private J.P. Morgan meeting say Economy Minister Luis Caputo floated accelerating the crawling peg to 1.5% a month while keeping the peso within bands rather than allowing a free float.
- The economic team told Clarín that claims of a faster band adjustment or a 30‑day plan are false, aligning with President Javier Milei’s public stance to keep the band regime through 2027.
- According to Bloomberg accounts cited by local media, Caputo said a plan could be presented within 30 days covering a reserve‑accumulation timetable, a repurchase of 2029 and 2030 global bonds, and an education bond.
- Recent Treasury dollar purchases inside the band have been small, lifting deposits at the central bank to roughly US$148–156 million as analysts note net reserves remain deeply negative and the country risk hovers near 620–650 basis points.
- Market commentary suggests credible reserve buying and modest band flexibilization could lower the risk premium, while unconfirmed analysis indicates prior U.S. Treasury peso positions may have been swapped into dollar repos.