Current account growth dropped to 59.59%. The decline was transferred to the stock exchange discount for stock exchanges, with fewer strengths due to personal credit
The rate of accelerating the Central Bank accelerated to gradually move to the general public. In the last three days, the monetary organism exceeds 56.60% and 54.89%, the average rate paid by Leliqs, and sold 171 percent to the company's current account receivables. an average increase of 59.59%, lower than the end of August last year.
BCRA's daily cash flow chart is the monetary policy rate and also serves as a reference for the financial system. Thus, whenever this rate moves up or down, the shortest credit lines are dynamic changes.
In fact, the interest rates in the current account had a strong balance between September and October, formerly Central Chairman, Luis & Toto & # 39; When Caputo adjusted to 60% and later, when Guido Sandleris adjusted sharply. rates up to 73% up to the year rates. In this way, the company costs more than 78% of current accounts at the time of raising money.
Now, according to the BCRA average, the rate is 59.59%; That is, when the level of less than 30 August is 47.2% manual. It should be noted that this number is a National Nominal Rate (TNA), with a total Financial Cost (CFT) of around 76%. Of course, that number, in the midst of a hard currency adjustment, reached more than 100% every year.
The current account deal, commonly known as "found out", is the most widely used line of small and medium-sized businesses for financing everyday cash. With the rise in rates, the stock of these loans plunged in the first three months of monetary adjustment of 29,781 million dollars and continues to remain stable in January.
This week, one of the main factors accelerated by the fall of the rates was a change made by a monetary agency, as was the case with Leliqs's daily bidding. In fact, at the beginning of each turn, there will be a number of indicators and then it will be efficiently included. No weight or lower weight. Previously, however, they put more money than indicated, and the fall of the rates was very modest.
What does this change mean and how does the rate affect? In essence, the banks offer lower rates, for fear of being out of this court and for paying their weights. "The BCRA has modified the bidding method, and now the amount has been announced and banks do not want to stay away, the endogenous ways go down faster," explains Delphos Investor, Santiago López Alfaro.
This impact was the first impact on the call market, one-day loans between banks, the liquidity of the financial system, the thermometer. On Friday, this rate was an average of 53.2%, while 46% worked during the year.
The nominal decline of money was a nominal drop in the dollar, and from Monday after Wednesday it did not operate outside the intervention area and did not react to the purchases of the BCRA. One week, with Leliqs auctions, it injects less than 79,000 million pesetas and remains in zero-growth target at the base of the Fund during a month's expiration.
Thus, with more weight on the market and lower yields, the dollar did not react for a long time.
Simultaneously, exchanges of discounting for SMEs in the Stock Exchange in Buenos Aires also coincided with the trend marked by the Central Zone. According to the Argentine Securities Market Report, when these instruments were used, the 30-day discounted rate of proof verified yesterday was 43.26% per annum and 43.10 and 60 days before the previous week, more than one percentage point.
In family lines, some drop in fees have been transferred to people's cost, though in a much colder way. According to data from the last BCRA, the average rate of these loans was 63.2% from January 29, compared to the same level as in previous days, but two points less than two decades ago.
"In line like personal loans, we need to wait for the limitation of the consolidated rate before transferring customers. The changes are always sensitive, but not as sensitive as the short term," they explained from a private bank.
Until it goes down
In the city they think that the fall of the rates will be in the short term, but unlike this week. "See how the rate and the impact of the transport inflation increase should be done. It's still not clear, it's going down," says the head of a local bank. "This means that the rate drops in a sustainable way," he added.
The external context appears to be in favor of local assets. Although it was almost discounted that the Federal Reserve did not change the rate yesterday, its assertion gave rise to a new boost over its shares and volumes. It adds a downward pressure on money and it can give more money agencies to keep track of airline prices, without fear of the exchange rate.
Undoubtedly, even though the rates were very high, the cuts were transferred to families and companies this week, and the key of the production sector began to rise.
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