After the inflation data, the presumption in the market increases that there will be higher interest rates
January’s CPI came as no surprise: CER-adjusting government securities didn’t budge, unlike on previous occasions
January’s 6% inflation is not surprising, but it has strengthened investors’ defences. Indeed, when the official INDEC figure was released, equities weakened and bonds indexed to the cost of living did not move, contrary to what happened in the previous months.
The free dollar was left at $379 for sale
After trading higher for most of the trade, the free dollar it ended Tuesday unchanged from Monday at $379 to sell in the narrow parallel market. Thus, it remains two pesos below the January close at $381. However, since the beginning of 2023, it has recorded an increase of 33 pesos or 9.5%.
Financial prices also remained stable. The dollar counted with liquidation at $370 and the MEP in 355 pesos.
He central bank continues to lose reserves: $35 million on Tuesday and accumulates a negative balance of more than $500 million so far in February. With the inflation going up, tomorrow you will have to decide what to do with the interest rate.
He S&P Merval it marked its sixth climb in the last 7 days.