ARGT - Argentina Is Struggling To Avoid A Deeper Recession
The Argentine peso showed appreciating pressure in January 2019, dropping below the Central Bank's (Banco Central de la República Argentina: BCRA) no-intervention range and prompting the bank to purchase hard currency and to relax monetary policy. However, the monthly inflation rate re-accelerated in February, leading the annual rate to be above 51%. Meanwhile, the manufacturing sector posted a double-digit annual decrease in January. The tight credit conditions, the high cost of inputs, and the reduced demand are taking a toll on economic activity.
Faster monetary policy easing, déjà vu?
In December 2017, monetary authorities acknowledged