The reduction of the monetary policy rate by the Central Bank of the Argentine Republic (BCRA) continues to impact the yields of fixed-term deposits in pesos. Banks adjust their interest rates practically daily, with an average downward adjustment of 5%. The goal is to maintain inflation control and financial market stability, although this affects the profitability of savers.
Inflation in October has shown a notable slowdown, standing at 2.7%, the lowest figure since the new government took office, marking a cumulative inflation of 107% so far this year. However, with an annual inflation of 193%, the performance of fixed-term deposits must be evaluated. If this trend continues, the highest Annual Nominal Rates (TNA) already exceed monthly inflation.
Banco Macro, which had the highest profitability on Monday, has aggressively adjusted its rates, falling to the bottom half of the table on Thursday. Therefore, savers must stay vigilant and constantly review annual profitability to choose the best option for safeguarding or saving.
Among financial entities, Banco CMF S.A. offers a rate of 37.25%, as do Banco Voii S.A. and Banco Bica S.A. While Crédito Regional Compañía Financiera S.A.U. maintains its rate at the same level. The competition to attract savers continues, with daily movements in interest rates, providing customers with more options to choose the destination of their funds.
