Overview
- Markets rallied Wednesday after Fitch raised Argentina’s rating to B- with a stable outlook, as JPMorgan’s risk gauge fell toward 528–514 and Argentine stocks in New York jumped as much as 10–11%.
- The official exchange rate eased to roughly $1,388–$1,410 and sat far below the central bank’s band ceiling near $1,714, while the blue dollar slipped to about $1,400 and the gap with the official rate narrowed to under 1%.
- The central bank extended its dollar‑buying streak to about 80 trading days and has purchased roughly US$7.29 billion so far in 2026, covering about 73% of its US$10 billion accumulation goal.
- High‑frequency readings point to a break in the inflation pickup, with April seen near 2.4%–2.7% after March’s 3.4%, which hints at cooling price pressures yet still leaves an inertial floor that shapes rates and saving choices.
- Credit conditions show a split, with peso loans shrinking in real terms as dollar lending hits a record near US$22.7 billion, a shift helped by a calm exchange market and lower real returns on short‑term peso instruments.