However, following the BCRA's response and relaunching the reference interest rate (Leliq), back to levels exceeding 65% per annum, banks began with a careful adjustment of the returns offered to savers. Thus, the first phase, where the averages of fixed interest rates in pesos of private banks increased from 100 to 150 basis points. Thus, the difference between the reference interest rate and the distribution of fixed terms has increased significantly. After the reference rate was consolidated at a new stadium of almost 67%, the banks adjusted the number of steps and returns raised in recent days at levels close to 42% per annum for amounts exceeding $ 150,000. As a reference, BCRA had the average rates of the system on Friday 41.34% for fixed conditions in pesos in 30 days at private banks, 43.25% for private Badlar (over $ 1 million) and 45 75% for private TM20 (more than USD 20 million). She turned to levels in early February.
The third week of the month showed a breakdown in the trend of growth of exchange rates and the dollar more calm. Thus, fixed private rations of non-performing pesos, which fell between 0.5% and 0.7% per month, in the first two weeks, are now barely 0.1% lower. The state of private fixed conditions in inflexible pesos is 1.12 trillion dollars. But a strong inflation response has caused private fixed conditions to grow in flexible pesos, which is more than 70% per month. The stocks now exceed $ 29,300 million and return to levels that occurred early in December.
It should be noted that this year fixed terms in non-adaptive pesos increased by USD 138,786 million (+ 17%), while adjusting for USD 8,959 million (+ 3.4%). It has therefore increased its mandate for a fixed period of $ 3.5 billion between the two private sectors. Undoubtedly, most of this money is parked under the "bet" that the rate will beat the dollar. It is therefore worth monitoring their behavior.