2023-05-15 23:24:56
The Central Bank of the Argentine Republic ordered that from June a two-point reduction in the interest rate for unpaid balances on credit cards, for both financial and non-financial entities.
Thus, the interest rate for financing unpaid balances of credit cards issued by financial institutions goes from 88 to 86%, seeking to cushion the effect of the rise to 97% of the monetary policy rate.
Likewise, a resolution was published in the Official Gazette that set the maximum rate that can be applied by credit card issuers that are not financial institutions at 81.08%, that is, It applies to cards issued by, for example, supermarkets or household appliance companies.
Rate hike: what will be the impact of the Central Bank measure on inflation in May
Consequently, they are two resolutions of different impact, since the first applies to all bank cards and the second only to those that offer a certain universe of mass consumption companies, indicated from NA.
With this measure, the government seeks to mitigate in a consumer sector the effect that the increase in the monetary policy rate will have, which since Monday is 97%.
now 12
Another measure of the Central Bank is the reduction of 9% in the cost of financing for purchases of national products made through the Ahora 12 program.
“Starting next week, the cost of financing in 12 installments will drop 9 percentage points,” sources from the Palacio de Hacienda specified, providing details of the battery of measures that were decided to put in place to redirect the macroeconomy.
“This way, the consumption of products of national origin is promoted, which represent 5.8 million monthly operations for a total of more than 250 billion pesos”, the same source remarked to Télam.
LM
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