Banks reduced interest rates for the financial instrument, but it remains to know if there is a place for more sales.
Banks applied new cuts to the rates of fixed deadlines and most financial entities already pay less than 40% per year. The decision comes in the midst of the volatility of the dollar and after the 10 -point reduction arranged by the BCRA, which maintains its 25% taking in the Simultaneous of Byma.
Last week, the monetary entity made the decision to cut interest rates After the announcement of the forceful support of the US Treasury to the government’s economic program and the fall of the dollar in the wholesale segmentwhich returned to previous levels of the legislative elections in the Province of Buenos Aires.
In this way, the Wholesale Rate of Argentina (Tamar) For fixed term deposits of private banks for $ 1 billion or more, it went down this Monday to 41% TNA. At the same time, the Badlaron private banks deposits for $ 1 million or more for that same period, it pierced 40% TNA, to close the day in 39.25% TNA. At the beginning of September, these same rates were at a level of 67% TNA and 58.19% TNA, respectively.
In this regard, the director of Investment Profession, Rafael Di Giornohe said to Scope that The future rate level will be based on what the government doessince, if there is an exchange stability, the administration of Javier Milei You won’t need interest rates.
However, he remarked that If the BCRA begins again to sell reservationsit is likely that a little before Legislative elections October, The government “could raise rates again to try to contain the dollar”.
Fixed deadline: What rate pays each bank, this Monday, September 29
- VOII BANK – 43% TNA
- Regional Credit Financial Company – 43%
- Bank of the Province of Córdoba – 43%
- MERIDIAN BANK – 42.5%
- CMF Bank – 42%
- REBA – 42%
- Mariva Bank – 41.5%
- BICA BANK – 41%
- Bibank – 40%
- Tierra del Fuego Bank – 39%
- Sun Bank – 38%
- Chubut Bank – 38%
- Current Bank – 38%
- Dino Bank – 38%
- Julio Bank – 37%
- Comafi Bank – 37%
- Mortgage Bank – 36%
- Nation Bank – 36%
- Banco Galicia – 35.25%
- Macro Bank – 35.5%
- ICBC Bank – 35.15%
- BBVA Bank – 35%
- Santander Bank – 35%
- CREDICOOP BANK – 34%
- Province Bank – 34%
- City Bank – 31%
- Formosa Bank – 30%
- Bank MAS SALES – 30%
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
