The Central Bank auction Leliq with balanced rate

The Central Bank of Argentina (BCRA) kept the average rate of Leliq liquidity bills balanced in its second Friday placement.

The BCRA tendered 106,724 million pesos (about 1,911 million dollars) at an average yield of 85,871%, compared to 85,782% of the previous auction.

The second placement, within seven days, ranged between a minimum and maximum rate of 84.485% and 86,0001% annually, respectively.

The monetary policy rate for the day ended at 85,828%, after the absorption of 204,354 million pesos (about 3,658 million dollars) in the usual two tenders.

The latest report from the Center for Studies of the New Economy (CENE), from the University of Belgrano (UB), argues that "Leliq Mountain represents 79% of the monetary base" and that, "as it happened with the ( letters) Lebac, at some point it must be disarmed. "