The Central Bank reduced the monetary policy rate from 40% to 35%. This will impact the performance of banks’ fixed terms.
He Central Bank (BCRA) announced a reduction of 5 percentage points in its monetary policy rate and thus went from 40% TNA to 35%. Until now, the bankswho are no longer obliged to pay a minimum rate, They offered their clients returns between 30% and 42% TNA and it is expected that they will be modified downwards in the coming hours.
It is important to note that, with the BCRA’s decision, the Monthly Effective Rate (TEM) becomes 2.92% and the annual effective rate (TEA) is, as of today, 41.19%. So, The monthly performance is around the expected inflation for October, which will be around 2.7%-2.9%according to private estimates.
“It was something that, in some way, the market was anticipating with the investment in the peso curve. The decision is made within the framework of lower inflationary expectations. According to what the market expects in terms of inflation for the coming months, The rate that the BCRA has just set remains slightly positive and it goes in the direction of continuing to accompany the convergence of variables,” he told Ámbito, Andrés Reschini from F2 Financial Solutions.
Until now, these are the rates that were offered
- Reba: 42% TNA
- Bank VoII: 42%
- CMF Bank: 42%
- Bica Bank: 42%
- BiBank: 40%
- Meridian Bank: 40%
- Mortgage Bank: 40%
- Regional Credit Financial Company: 40%
- Banco Nación: 39%
- Comafi Bank: 39%
- Current Bank: 39%
- Macro Bank: 38.5%
- Banco del Chubut: 38.5%
- Tierra del Fuego Bank: 38.5%
- Credicoop Bank: 37.5%
- Banco Galicia: 37.5%
- Banco Julio: 37.25%
- Dino Bank: 37%
- HSBC: 37%
- Banco Galicia: 36%
- BBVA Bank: 35.5%
- ICBC Argentina: 35.45%
- Provincial Bank: 35%
- City Bank: 35%
- Bank of Córdoba: 35%
- Santander 33%
- Banco del Sol: 33%
- Banco Masventas: 30%
How will the fixed term rates be updated?
Ariel SbadarCEO of Cocos Capital, said in his account in the effective yield is probably between 31% and 32%“he said regarding the paid accounts offered by virtual wallets.
Source: Ambito
