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Home » Argentina central bank to keep powder dry for now after election surprise -sources

Argentina central bank to keep powder dry for now after election surprise -sources

    Argentina's central bank is planning to hold fire for now on any major policy adjustments after a shock win for the Peronist government in a general election on Sunday, two bank sources said, a sharp contrast to rapid moves after an August primary. Economy Minister Sergio Massa outperformed in a first round election on Sunday to take pole position ahead of a run-off vote next month where he will face radical libertarian Javier Milei, who wants to dollarize the economy and shut the central bank. "I don't see it on the BCRA's (central bank) agenda," one of the sources said to Reuters when asked about a potential hike to the benchmark interest rate from the current 133% level, set to help boost the peso and temper triple-digit annual inflation.

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