Argentina is turning the page. Currency controls are out, the peso is floating and inflation is finally easing. The central bank has started cutting rates, IMF cash is flowing and reserves are building. Overseas card use is back, though capital controls on businesses remain – for now. Early moves toward digital finance hint at deeper reforms ahead. If momentum holds, this could be the start of a real reset.
Central Bank & Interest Rates
On 30th January, Argentina’s central bank cut its benchmark interest rate from 32% to 29%, a 300 basis point drop. The move came off the back of slowing inflation and a shift in the pace of currency devaluation – the monthly crawling peg was reduced from 2% to 1%. This cut points to the dawn of a more relaxed monetary stance. We view it as being aimed at supporting recovery while keeping a lid on inflation, which - though still high - is showing early signs of retreat.
Exchange Rates & Black Market Impact
President Milei’s administration has scr...
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