Which one is best after the August inflation data?

Which one is best after the August inflation data?
September 14, 2023 – 16:07

The inflationary jump in August, on the one hand, and the BCRA that decided to maintain its current rate policy, on the other, provide two important pieces of information to decide what to do.


On Wednesday, Indec announced that August inflation stood at 12.4% monthly, a record since 1991. After knowing the data, however, the BCRA decided to maintain the reference rate at the post-STEP values ​​(when it validated an increase after the 22% devaluation that occurred after the elections. But, savers will think, what should be done in this context Traditional fixed term or tied to inflation?

From September 16 to October 12, the August CPI, which was 12.4%, will begin to apply to measure the UVA. If this rate is compared with the interest currently offered by the traditional fixed term, we will notice that it was far behind (after the PASO, the monthly interest rate of the traditional fixed term was 8.9%). However It must be remembered that the UVA fixed term has a minimum term of three months.

“Between traditional fixed term and UVA UVA is better by yield tied to inflation a priori considering that UVA fixed term is 90 days“, explained analysts. For their part, The traditional fixed term has the Annual Nominal Rate at 118% and a 9.7% Monthly Effective Rate. At this time the UVA pays more than the traditional one, but it must be taken into account that to continue to be this way in the next three months the BCRA should not adjust the reference rates.

One of the variants that appears intermediate between one and the other is the pre-cancellable UVA fixed term. of this investment You can leave 30 days after placing the deposit.. When the early cancellation option is applied, the tax will not be adjusted by UVA, but rather will accrue a fixed pre-cancellation rate for the period actually elapsedwhich will be published daily by the Central Bank on its website.

Source: Ambito

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