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2h ago

Argentina’s Central Bank Cuts Overnight Pases Rate to 22% as Treasury Secures 111% Rollover

The shift marks a coordinated turn toward easing to spur lending after pre‑election tightening.

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La tapa de BAE Negocios
El presidente del BCRA, Santiago Bausili, bajó la tasa para intentar reanimar a una actividad que viene de dos trimestres en baja

Overview

  • The BCRA lowered its one‑day Pases (simultáneas) rate to 22% from 25% TNA on Nov. 5 to pull down peso funding costs for banks.
  • At its latest auction, the Treasury placed about ARS 8.5 trillion with a rollover near 111%, extending maturities and achieving lower yields.
  • The shortest Lecap closed at roughly 31.1% TNA versus similar notes a week earlier near 32%–35% TNA, indicating a drop in domestic borrowing costs.
  • Market pricing showed a roughly 0.5% gain on the peso curve with rate compression, while key business credit lines such as overdraft advances eased to about 45.9% after an Oct. 15 peak near 190.7%.
  • The Treasury made micro dollar purchases of USD 13 million and USD 63 million, lifting deposits at the BCRA to about USD 156 million, a modest buffer against up to USD 1.8 billion in year‑end FX obligations.