In full negotiation with the IMF, the central bank (BCRA) decided this Thursday to raise the interest rates of the financial system, including those paid by the Fixed deadlines. Thus, he winked at the international financial organization, which had asked the Government to maintain positive rates for savings in pesos.
However, analysts warn that the rise fell short in comparison with past inflation and, also, with that expected for the next few months. However, some believe that the increase that was established yesterday could be the first of a series of gradual increments of the rates.
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This is how the rates of the traditional 30-day fixed terms remain
According to the new regulations, from this friday The following returns begin to apply:
- The deposits of up to $ 10 million made by human persons banks will pay, as a minimum, one 39% nominal annual rate.
- The rest of the deposits -which includes all those carried out by companies and those who make individuals for amounts greater than $ 10 million- will have a minimum yield of 37%.
How much will the UVA fixed installments pay
In the case of fixed terms that adjust for UVA, there were changes for the pre-cancelable version. It is a type of deposit that, although it is for 90 days, can be withdrawn from the first month.
Those savers who use this option pre-cancellation lose the adjustment by UVA and get a fixed rate. Until this Thursday, that yield was 30.5%, but now the BCRA raised it to 34%.
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How the new rates compare to inflation
Except in the case of UVA fixed terms, which always offer a rate that matches or slightly beats the price adjustment, traditional deposits in pesos they will continue to pay negative returns compared to inflation.
From now on, the rate The highest that banks will provide will be 39% annual nominal. This is equivalent to:
- A 3.25% monthly yield, which would be below the inflation projected by the private sector, at least for the next 5 months, according to the latest Market Expectations Survey (REM).
- A annual effective rate of 46.80%, which also loses against the expected price increase for all of 2022, which stands at 52.1%.
The rest of the depositors will get returns even lower for saving in pesos, since an annual nominal rate of 37% translates into a monthly interest of 3.08% and an effective annual rate of 43.98%.