Overview

• The peso has traded between ARS 1,070 and ARS 1,200 since the April 11 introduction of a floating exchange rate band, without central bank intervention.
• Bank of America reversed its prior bearish stance and now advises investors to buy pesos, anticipating further currency appreciation.
• April food inflation reached 3.4%, with meat prices surging 6.9%, exacerbating household cost pressures.
• The Labor Ministry's 2% monthly cap on wage increases has sparked tensions with unions, straining wage negotiations.
• Private consultancies predict April inflation will be lower than March's 3.7%, with estimates ranging from 2.5% to 3.3%.