On Monday, November 3, Argentina's National Bank (BNA), the main state-owned financial institution, offers a 35% nominal annual rate (TNA) for its 30-day online fixed-term deposits, while most private banks offer lower rates. This rate, implying a direct monthly yield of 2.91%, is above the inflation projections for October, which has just concluded. According to surveys by various private consultancies, the October Consumer Price Index (CPI) would be in a range of between 2.1% and 2.8%. In this way, the yield offered by the government bank would 'outpace inflation' and ensure a real positive return for savers. The BNA's 35% rate stands out in this Monday's comparative chart, where most private banks offer lower yields: Banco Nación: 35% ICBC: 35.3% Banco Macro: 33% Banco Credicoop: 33% BBVA: 32% Banco Ciudad: 32% Banco Galicia: 31% Banco de la Provincia de Buenos Aires: 31% Banco Santander: 29%
