MercoPress. South Atlantic News Agency
Argentina cuts rate reference for eight weeks running as double/digit inflation eases
Argentina's double-digit inflation has shown signs of easing this month, the central bank said on Tuesday as it cut its 35-day reference rate for the eighth week in a row. As part of its effort to get Latin America's No. 3 economy out of the doldrums while containing consumer prices, the bank sliced 75 basis points off the interest rate to 30.75%. Read full article
Comments
Disclaimer & comment rulesSo it is working.
Jun 29th, 2016 - 05:32 am - Link - Report abuse 0So much for him making everything worse.
Tick tock.
Jun 29th, 2016 - 12:24 pm - Link - Report abuse 0The only question is just exactly how fragile the rg economy is and as such susceptible to latam and world financial contagion.
What's the next crisis?
Lot's of black swans out there just beyond the horizon.
Wow. Consumer loans at “only” 30.75 percent.
Jun 29th, 2016 - 01:05 pm - Link - Report abuse 0The Argentina of always.
Nostril? = Silence.... No doubt squatting down with head in hands humming to himself.
Jun 29th, 2016 - 04:05 pm - Link - Report abuse 0Funny how some MP commentators such as Martillazo propose that “Argentina will never improve” while others such as Skip remain enthusiastic about Macri's government.
Jun 29th, 2016 - 06:10 pm - Link - Report abuse 0Both, of course, are wrong.
Macri is wilfully steering the country straight to its next crisis--on which chronic at #2 is right--because all he cares about is to redistribute the national income favouring a small wealthy minority and at the same time starving workers to lower wages.
It's not that Argentina cannot improve but rather, again, a direct consequence of the selfishness of our wealthy class, one whose interests are outside of the country and is behind the current government's well-defined agenda.
Macri's policies are weakeing Argentina's domestic market (the real cause of the lower inflation rates, a “remedy” worse than the sickness) and his proposed recovery is based on an affluence of foreign capitals that appear more elusive than ever.
Again, Macri doesn't care and he is only buying time while he achieves his class' revenge: the most predatory attack on Argentina's society's in living memory.
@5 “......starving workers to lower wages. ...”
Jun 29th, 2016 - 06:35 pm - Link - Report abuse 0Reekie, the great noisy unwashed are getting increasingly higher wages and that is part of the enormous inflation rate which, -- -- tarde o temprano returns to haunt Argentistan. And that wage inflation (which gives argentos the highest loaded wage/compensation packages in all of Sudacamerica) also keeps loaded labour costs so high that few outside the country are going to risk new investment here.
Remember how CFK's policies brought not only high inflation but also created shortages within the country? And whose INDEC lied about growth in an attempt to coddle the descerebrados? Oh, wait, you weren't here to experience all of that.
Reekie: “... an affluence of foreign capitals ...” We presume by that you mean that a long history of Peronist anti-business practices that still prevails is discouraging foreign investment in Argentistan.
Your comments only remind us that no matter who is in power here, we have to live with a perpetual cock-up from which there is no escape.
“the most predatory attack on Argentina's society's in living memory.”
Jun 29th, 2016 - 11:53 pm - Link - Report abuse 0That would clearly be CFK and her administration. They pillaged Argentina, did they not?
And CFK herself has become a member of that wealthy minority, hasn't she?
Given the trends in inflation, the new 500 peso bill to be introduced this week is not going to be very useful for very long. We will soon need new bills in denominations of 5000, 10,000, and 50,000 pesos for routine shopping.
Jun 30th, 2016 - 12:47 am - Link - Report abuse 0But at least the new 500 peso bill will have an appropriate image, as seen here
http://www.cotorra.info/data/fotos/417999192_billete.jpg
#7 bushpilot
Jun 30th, 2016 - 02:27 am - Link - Report abuse 0Using the same argument parroted by the Macri government that everything that is wrong is a function of the “heavy legacy” and still trying to blame Cristina doesn't cut it, my boy.
Nobody would be asking president Macri to “fix” things in six months. Electors would be happy if things were about the same or slightly improving.
But they are not. Most indicators show living conditions are rapidly deteriorating, although the new INDEC numbers just released have disconcerted observers:
“Argentina’s gross domestic product unexpectedly rose 0.5 percent in the first quarter from a year earlier...”
http://www.bloomberg.com/news/articles/2016-06-29/argentina-economy-unexpectedly-expands-0-5-in-first-quarter
However, Bloomberg came up with a more balanced view a few hours later:
“Argentina’s economy is faltering after Macri devalued the peso and removed utility bill and transport subsidies...annual inflation has soared to more than 40 percent, while investment has declined. Macri has said the economy will return to growth in the second half of the year.”
Oh, the magic of the second semester, so similar to former economy minister Alvaro Alsogaray's famous motto: “Hay que pasar el invierno,” or “We've got to make it through winter.”
http://www.bloomberg.com/news/articles/2016-06-29/argentina-economy-unexpectedly-expands-0-5-in-first-quarter
Reekie serves to remind us once again that no matter who is running Argentina, that it's going to be an economic disaster.
Jun 30th, 2016 - 04:29 am - Link - Report abuse 0Don't forget that CFK, though the INDEC and other agencies, lied about most of that imaginary growth, denied that the country was in default, denied the rates of inflation, lied about the extent of poverty, and, well, pretty much lied about a lot of things :
“Argentina set to tumble 22 places on global wealth list”
“....This would be enough to send the country spiralling from 56th in the global rankings to 78th, placing it below .... the likes of Suriname, St Lucia and Grenada and the global average GDP per head of $10,739. Worse still, by this measure Argentines are now poorer than they were in 1998, before the start of the country’s economic downturn that led to its 2001 default.....”
https://next.ft.com/content/f34df2da-2296-11e6-aa98-db1e01fabc0c
Winter is coming, Reekie.
Léalo y llore: “Sin el maquillaje K, los argentinos hoy son más pobres que en 1998” (lo mismo, escrito en jibber-jabber)
https://next.ft.com/content/f34df2da-2296-11e6-aa98-db1e01fabc0c
https://next.ft.com/content/f34df2da-2296-11e6-aa98-db1e01fabc0c
“Es el peronismo, estúpido: Cuando, cómo y por qué se jodió la Argentina” - por Fernando Iglesias
So long as this country is run by Argentines, it will be screwed.
Reeeeeeeeeeeeeeeeeeekie goes into full delusional mode as the queen of denial.
Jun 30th, 2016 - 03:01 pm - Link - Report abuse 0The world isn't conspiring against rg.
Rg has nothing that is scarce or particularly desirable.
Rg is defective and fails under its own burden of sloth and immorality.
Reekie, an update for you:
Jun 30th, 2016 - 03:36 pm - Link - Report abuse 0Apart from boosting spending for state universities by 500 million pesos, growing the economy by 0.5%, helping Siemens announce the intention to provide us with 6,000 jobs, releasing the dollar clamp, starting the process of paying off our international debts which was a hole dug ever deeper for him by the previous administration's refusal to comply with their contractual obligations, stopping INDEC from lying about how bad we were doing, paying the pensioners and reducing inflation, what did Macri ever do for us? ;-)
@9
Jun 30th, 2016 - 05:28 pm - Link - Report abuse 0“...trying to blame Cristina doesn't cut it, my boy.”
“My boy?” What do you think you' are his “master?” You are a “Perronist” shill operating as a fifth columnist in a country that rather foolishly allowed you entry when you fled, who despises his gringo and First Nation neighbors as “untermenschen.” (Not to mention Jews, as your smiling comments about Nisman amply demonstrated.) The Mounties need to take a look at your finances to see how much money has come from abroad over the last 10 years.
“We've got to make it through winter.”
Well, I can just see your skull like visage peering out of a snow drift frozen in rictus, waiting for discovery in spring. Here's hoping I get to read your obituary sooner rather than later, chantapufi.
http://3.bp.blogspot.com/_rljNuSIqyn4/S6o0hT3F3tI/AAAAAAAAA7I/wAI4OoFvD3Y/s1600/ramon+falcon+verde+blog.jpg
#13 imoyaro
Jul 01st, 2016 - 06:51 am - Link - Report abuse 0I love it when apprentice bullies try to intimidate people expressing views different from those held by the majority here.
Look, young man. Your piece of cheap literature doesn't cut it. Better luck next time.
@14
Jul 01st, 2016 - 12:28 pm - Link - Report abuse 0As opposed to you being a professional bully, like one of the “Alten Parteigenossen” like yourself? Sorry, I never will respect “National Socialists,” and firmly believe there is only one way to deal with them. ;)
http://s1290.photobucket.com/user/imoyaro/media/chopperlaff_zpsryuikyku.gif.html
#15 imoyaro
Jul 01st, 2016 - 07:01 pm - Link - Report abuse 0Well, for the record, I am for equality and respect for all human beings and their different belief systems, race and support diversity--including of opinion.
I would feel insulted if a serious person were to call me “National Socialist.”
I also resent being called a “professional bully,” after being falsely accused of despising gringos, First Nation members, Jews etc.
“Here's hoping I get to read your obituary sooner rather than later, chantapufi,” imoyaro wrote.
“Imoyaro” may make profuse use of insults and baseless accusations--not knowing that his writing shows more about himself than it shows about other MP commentators.
@16
Jul 01st, 2016 - 11:56 pm - Link - Report abuse 0Actually, you have made insulting remarks against “gringos” more than once. Your pretty statement is just part of your cover. I am sure you feel bullied since given your “job,” infiltrating Canada, you can't just pick up the phone and send a gang of motochorros over to our house and have my family executed in a “robbery,” as is SOP in “your country.” Profuse insults are all you deserve, given the lies and half truths you spout. You really are a “traditional” Argentine journalist, a la Sarmiento, who wrote fiction couched as history and advocated genocide, all the while preaching “civilization,” and Mitre, whose history is remarkable for what he left out in order to push his agenda. Of course I look forward to reading your obituary, it would mean one less shill for criminality in the world, although admittedly, that will never disappear. I can discuss politics amiably with all kinds of people and often do, but an individual who defends the indefensible the way you do deserves everything life can dump on you. I am a political moderate, and in that sense I am your worst nightmare. Moderates are always attacked by the extremes on left and right, and as I believe I pointed out in another thread, Peronism takes the worst from each extreme of the political spectrum. Consequently, your statement for the record is just a cover story. What you defend in this chat is criminality pure and simple, and I have no doubt that you are delighted that the Narcokleptocracy under the Ks has had a hand in exporting precursor chemicals for methamphetimine to be turned into drugs and smuggled from Mexico north to your hated gringos. It is impossible for me to respect you, given your penchant for mendacity. At least I am honest, apparently unlike you, and really would enjoy reading your obit. If that bothers you, take a look in the mirror...
#17 imoyaro
Jul 02nd, 2016 - 01:02 am - Link - Report abuse 0No doubt you are a moderated and tolerant person.
You show it:
”I can discuss politics amiably (but someone like you) deserves everything life can dump on you.”
However, I would consider myself diminished if I wished you harm for what you post. I do believe in change and progress by peaceful means. And you, in spite of what you vent anonymously here, you too believe in discussion--or would not bother posting here.
There will always be disagreement and different ideas. There's nothing we can do about it. What we can do is to keep a civilized discussion level.
Now I am going to leave this and go celebrate Canada Day. It is a particularly joyful celebration with brand new PM Justin Trudeau, a fresh breath after a decade of Conservative government. Have a nice day!
@ It is telling that you could not quote me directly, but had to eliminate the qualifying statement about you defending the indefensible, which is all you do here. You try to portray yourself as defending the undefended, when, as I pointed out, you routinely defend the indefensible. As for looking forward to you hoofing it from this Vale of Tears, the world would indeed be a better place, albeit momentarily. I certainly accept the same is undoubtedly true of me. However to quote a Buddhist saying. “A man who stands by idly when evil is being done is greater than a King of Demons.” You must have quite a domain going there. You feel am not a moderate. Fair enough. As a “Perronist,” you have interchangeable access to the worst of the right and left wing ideologies, and from your point of view I am your worst nightmare, as I said. Your statement about Canada Day is a hoot, as you have NEVER posted that Canada was “your county,” rather that the domain of Narcokleptocracy held that position in your heart. As for the Trudeaus, I have never had a problem with either of them, probably because the Quebecois have always been kind to me personally. That may be because I spoke decent French, unlike many of their countrymen. When your Fuhrer had Nisman assassinated, you kept saying that the Judicial branch of the government should be allowed to do what it was supposed to. Now that your Fuhrer is under investigation, you cry that it is biased, and not capable of acting fairly. Well, given the history of Argentina, that is certainly a possibility, but you can't have it both ways. I look forward to tearing down your lies an half truths in the future. Like I said, you are like Sarmiento and Mitre, and to a moderate like myself, it doesn't get more loathsome than that. ;)
Jul 03rd, 2016 - 09:05 am - Link - Report abuse 0http://s1290.photobucket.com/user/imoyaro/media/chopperlaff_zpsryuikyku.gif.html
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!