Buenos Aires, March 7 (NA) – The Central Bank has set a new interest rate that will be mandatory for updating amounts in pending labor lawsuits. This is a requirement included in the labor reform law, which was enacted this Friday. The monetary authority has also enabled a statistical series and a calculator that will allow estimating the updating of debts according to the corresponding period. The defined rate corresponds to a passive rate constructed from the weighted average of the effective daily rate that financial entities pay for fixed-term peso deposits at 30 days. The series begins on June 3, 1993, and will be updated daily so that it can be used in the calculation of interest in judicial cases. The BCRA explained that the publication of this series seeks to give consistency to the calculations for updating amounts in labor disputes. In parallel, the agency has enabled a specific calculator that allows estimating the result of applying the rate to an initial amount for a determined period.
