The Board of Directors of the Central Bank will meet this afternoon to define a new rate hike, the third of the year, in response to the acceleration in inflation that occurred in February and which is expected to remain high also in March. The meeting, which takes place every Thursday, suffered two postponements amid the Government's doubts about a tool that they do not consider essential to tackle the inflation problem. But the commitments made in the agreement with the IMF, of imminent approval by the agency, force the rates to be adapted if objectives such as the accumulation of reserves are to be met.
It was originally scheduled for last Thursday. That day, in the middle of the Senate session to discuss the agreement with the IMF, Pesce decided to postpone the following day the weekly meeting with its directors. On Friday, while President Alberto Fernández tried to launch his war against inflation, the meeting was further postponed.
But finally this Tuesday will be the day and, according to sources of the entity, the directors are called to meet this afternoon. According to Reuters, the rate hike is guaranteed, although it remains to be defined how much the increase will be.
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