The monetary entity lasts details of an announcement that would see the light in the next few days and whose purpose is to make the lace policy more flexible
After “testing” a lower level at rates of interest and after the treasure achieved a 91% rollover in the last debt tender in pesos, The BCRA finalizes the details of a flexibility of bank lace. This could rebuild Scope From representatives of the Banks and sources close to the economic team. The people consulted do not rule out that the rule is published before the end of the week.
Through informal channels, Central Bank officials made some managers of financial entities that were willing to start relaxing the hard monetary squeeze From changes in the minimum cash requirements that banks are obliged to leave immobilized in the BCRA.
In fact, the possibility that the computation of lace stops being done daily, as the central took weeks ago, and go to count as the average of the last three days excites several bankersas confided a senior executive of the sector to this medium.
This would be an important turn in monetary policy that had a first indication this week when The Central Bank went from absorbing pesos in the Simultaneous Byma wheel of 45% on Monday, to 35% on Wednesday.
It should be remembered that the last measure launched by the BCRA had raised the Bank lace at 53.5%, the highest level in 32 years, as of September 1. It was a decision prior to the legislative elections in PBA with the aim of drying the pesos square and trying to contain the pressures on the dollar. That provision was one of those that contributed to raising the interest rates of the financial system.
Precisely, one of the rumors that circulated in the halls of the banks of the banks, in the prior to the tender, was that There was a possibility that lace uploadsas happened in the last of them. Finally, the treasure did not do it and achieved not only Place new bonds for $ 6.6 billion at an order rate of 59% In the case of Lecaps, but also It was able to refinance 91.4% of the maturities.
News in development.-
Source: Ambito
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