The Roll Over of Debt, the BCRA Lace Raise and the latest price increases mark a tense economic scenario, with rising and pressure inflation on the dollar.
Yes ok Today Sunday, August 17, they are defined The lists of candidates for national legislators who dispute their places in the National Congress in October, the most important thing is what happened on Wednesday, August 13 with 2/3 parts of the debt roll in pesos or in other words, the renewal of $ 15 bm in letters of which only ended renewing 61% by a total of $ 9.1 Bm same Wednesday 13.
The next day, Thursday 14, it was confirmed that the BCRA The banks of the banks uploaded to a total of 50% of the deposits – that is, between 2.5 and 3x of what banks normally possess in the rest of the world – and also informed the banking entities that they can incorporate as lace the letters that buy in the tender. Therefore, we return to the scheme of paid lace as we also returned 15 days ago to the passive passes that in April had communicated that they ended forever.
When establishing the regime previously said, those responsible for the banking entities understand that it is very similar to the bank corral established in the late 2001 and that only the recionalization/limitation of the exit of the funds that each client of the banks have in their accounts in sight as when he arranged it as when Domingo Felipe Cavallo December 3, 2001 with his vice minister Federico Sturzenegger. This was not well received at the City since the lace are mandatory to enter them to the BCRA But the purchase of letters in the tender is not; Therefore, financial institutions will try to dollarize their business portfolios by all possible roads, although the problem is that when the central cannot cope with that type of demand, the currency could not have a contribution roof and establish a new upper limit remembering that this band today is at $ 1,470 per US dollar.
Dollar pesos inflation
In conjunction with this, that same day Wednesday the Inflation Index (CPI) of INDEC that provided a number of 1.9% at the general level in coincidence with foods and drinks without alcohol was known but the services grew 3.1% and in the month of August they would not fall because the values of increases we are knowing are equal to those of the month of July. The difference marks that food lists, personal care and hygiene all arrived in the first days of August with +5 to +7% increase to what would be placing – until now – the next measurement that is known on September 10 in the order of 2.5 to 2.7% with the 14% increase in the change rate in July and did not fall when it went down. If the exchange rate reaches the 1,400 that +7% approximate rise is going to run at prices immediately and directly leading to levels greater than 3%. That ends constituting and confirming that the disinflation process was completed in the month of May last when 1.5% was obtained since in June it was 1.6 and July 1.9% generating a staircase that does not cease.
Source: Ambito
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