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Buenos Aires.- The Argentine economy is expected to contract by 2.4% in 2018, less than the previous estimate of 2.5%, and inflation would climb to 47.5%, compared with an earlier estimate of 44.8%, according to the report. the Bank's Market Expectations Survey (MER).
In its monthly report, drawn from economists, the monetary entity also indicated that respondents expected a nominal exchange rate of 39.60 pesos per dollar in December 2018 and 48.9 pesos at the end of 2019.
Since early October, the Central Bank of the Argentine Republic (BCRA) has put in place a system of control of the monetary base and a series of non-intervention measures on the foreign exchange market.
The organization holds daily auctions of "Leliq" liquidity letters in order to regulate the liquidity of the financial market and reduce the pressure on the exchange rate and soothe the high inflation that strikes the country. ;South America.
Based on the average of the REM projections, the Leliq rates for December 2018 and for the next 12 months are 64.78% and 42.68%, respectively.
The survey was conducted among 55 local and foreign analysts, added the monetary entity.
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