Central Bank of Argentina Lowers Reference Market Rate to 60%: A Look at the Domestic Economy and Javier Milei’s Presidency

The central bank of Argentina has made another adjustment to its reference market rate, bringing it down from 70% to 60%. This decision was made based on improved conditions in the domestic economy, including a fiscal surplus and a decrease in inflation. Just two weeks prior to this change, the bank had lowered the rate from 80% to 70%, citing decreased uncertainty and market consolidation. Since Javier Milei took office as president in December, the rate has been lowered a total of four times, from 133% to 100%, then to 80%, 70%, and now to 60%.

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