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Inflation triggered fixed terms in UVA – 04/20/2019



Bounce inflation during the summer he gave fuel UVA has set deadlines Growth While traditional fixed terms stagnated, these locations increased by 67% from February to March in nominal terms. The expectation that prices would follow the upward path reversed the balance in favor of these operations in the month, which was marked by the rise in the dollar.

Fixed terms in UVA offer average returns 6% per annum, plus the impact of inflation – secured around 35% for this year– Its a minimum of 90 days.

The course increased in March 4% And inflation rose by 4.7%. Over the past 12 months, there has been an increase of 54.7%.

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Central Bank data show that in private-sector term deposits in pesos increased by 1.5% (USD 17,000 million) in nominal terms, "slows the growth rate compared to previous months," the bank's monetary policy report said.

It is also stated in detail that between mid-February and March, "there was a change in the composition of the increase in fixed terms in favor of UVA-denominated placements, which 53% of the monthly average increase"

While the number of traditional fixed terms grew 0.5% from February to Marchthat have adapted to UVA increased by 67.1%, The first twelve months have increased first 69,7% and the seconds did it 273,5%Anyway, most savers who bet on time deposits in pesos will opt for the traditional format. The UVA ranked only in March 2.5% of the totalEven so, it increased when compared to February 1.5%

"In fact, we have a very good location for this product, which grows proportionately more than the classic solid period. In our case, we pay between 7.9% and 10% fixed TNA plus UVA for 90-366 days, "said BBVA Banco Francés, agreeing in the Mortgage Mortgage:" Since December, the supply of fixed terms in UVA has doubled while traditional remained stable. For fixed dates in UVA we have a rate of between 6 and 8% depending on the deadline. "In January, UVA fixed term volumes in January 2019 also doubled at rates ranging from 8 to 11% in terms of 90 to 365 days in March.

Rise is supported by two central columns: the first is that the degree of traditional fixed terms does not reflect Leliq's rate increasewho left after the financial summer 43% in the first week of February 66.8% The current This disagreement, at a time when the dollar price is rising, has made it to the pesos lose attraction in the last months. The second pillar was the recovery in inflation. From the result 2.9% in January expectations soared (3.8% in February and 4.7% in March) and now it is expected that only in the second semester will the index be below the threshold 2% per month,

In February, term deposits in pesos by 6.8% over inflation. There were fixed terms for retailers around this month 38%,

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At the end of March, the fixed interest rate that is currently around has been corrected 42%This was influenced by the pressure of the central bank, which increased the volume of bank deposits from 65% to 100%.

By giving them more opportunities to invest in these letters, which offer attractive returns, they strive to ensure that financial operators actively seek out pesos from the market through a bid more attractive prices.

The Central Report states that "some financial entities take a more aggressive stance on depositing deposits, raising interest rates on loans in this segment. Although the average monthly rate of fixed terms in UVA over 90 days was placed in 2006. t 6.3%, oscillated from low near to 2% to the maximum 8%"


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