The dollar today: the BCRA will analyze if it reduces the 3% adjustment of the band – 29/11/2018

The President of the Central Bank (BCRA), Guido Sandleris, has planned that the entity will badyze in December if the monthly adjustment of the exchange rate of 3% is falling.

Initially, in October, the no-intervention zone in the band was defined between 34 and 44 dollars per dollar "With a daily update at a rate of 3% per month," said Sandleris during his presentation to the Council of the Americas.

Clarin Bulletins

What happened today? We tell you the most important news of the day and what will happen tomorrow when you get up

From Monday to Friday in the afternoon.

In this context, "the Monetary Policy Committee will determine in December the discount rate for this zone for the first quarter of 2019, which should be lower than the current", the advanced official.

Sandleris admitted that the G20 summit "is taking place during a difficult period for our country," with "a recession, an acceleration of inflation and an acute devaluation"

"Three things led us to this situation: inherited economic imbalances, global and national shocks and our own mistakes"he added.

On the current monetary program, which includes a severe monetary contraction, he baderted that "This scheme, although somewhat outdated, is better suited to the Argentine reality"

"The main element of this scheme is a commitment so that the monetary base increases by 0% until June, with seasonal adjustment in December. The theory behind this is pretty simple: there should not be too much weight in the economy, "he concluded.