In a downward rates scenario, banks adjust interest in fixed deadlines to capture savers. What is the reason behind this movement?
In recent weeks, interest rates for fixed deadlines in pesos experienced a setback in their yields, in a economic context marked by complexity and volatility. This trend responds to monetary political decisions and competition between banks to capture deposits. To a greater or lesser extent, the banks then applied variations to the rates that, the previous week had risen in order to retain weights in the market.
Meanwhile, savers seek both to preserve their money and make it profitable and analyze each of the alternatives in detail when placing their money. This MIEROCLES October 8, prior to the 10th 10th holiday, the CREDICOOP BANK It is the one that offers the highest market rate in deposits at 30 days ..
Fixed term: why banks lower rates
The main reason behind the reduction in the yields of each bank It lies in the Decisions of the Central Bank of the Argentine Republic (BCRA). At the beginning of this year, the financial entity cut its rate of 32% to 29%, which caused lower rates throughout the financial system.
Fixed Term Investments
Depositphotos
Another of the fundamental variables is the Elimination of mandatory minimal rates For the fixed deadlines in pesos, The measure that banks left to fix their own yields in the market. This generated a competition intensification between banking entities for bringing savers, but also generated that the offers dispersed.
He Inflationary scenario and expectations They also influence the evolution of the rates that banks are willing to offer. Within a context in which inflation is expected to moderate in the rest of the year, some banks adjust their yields anticipating lower pressure on financial costs.
Investments fixed term
Depositphotos
One, for one, the interest rates of each bank
The offers currently observed show wide dispersion. According to official BCRA data, passive rates at 30 days have this annual nominal rate:
- Nation Bank: 37.5%
- Santander: 35%
- Banco Galicia: 37.5%
- Province Bank: 34%
- BBVA Bank: 35.5%
- Macro Bank: 38%
- Creicoop Bank: 39%
- ICBC Bank: 35.15%
- City Bank: 31%
Source: Ambito
