The second phase of the government’s economic plan is now underway, generating anticipation about potential developments in the markets. A minor adjustment in interest rates is expected, which could have an effect on pricing trends. However, any changes to the exchange rate seem unlikely at this point. To gain further insight into these issues, this outlet spoke with economist and stockbroker Gustavo Quintana.
Quintana explained that if there is a moderate increase in interest rates, which is what the market anticipates, we could see a slight easing of pressure on prices, leading to some price declines. While it’s still too early to make definitive statements, he believes the market might experience an atmosphere of relative calm and reduced price levels.
According to Quintana, there is an expectation of a minor adjustment in interest rates, despite early official denials. He noted that we should observe the developments throughout the week, but the prevailing sentiment leans towards some sort of adjustment.
Historically, finance ministers have commented when there are expectations of a potential change in the exchange rate, whether it’s a rise or devaluation. Quintana also mentioned the suggestion by Minister Caputo to sell dollars for tax payments, hinting at possible future impacts from monetary tightening on market prices.
On a different note, Quintana pointed out that the agro-export sector is liquidating as expected. While it may not be achieving record numbers from recent years, the income levels are still considered robust. He also highlighted a gap in the wholesale dollar market due to a lack of energy and fuel export offerings, which were significant in the first quarter of the year. Now, with increased demand, this has created an imbalance in the market.
In closing, Quintana expressed that while there are expectations for adjustments, reality has shown that anticipated changes to the official exchange rate have not materialized. Therefore, in the short term, no major modifications in policy or the wholesale dollar rate adjustments are anticipated.
Source: https://www.perfil.com/noticias/canal-e/los-ajustes-esperados-en-el-tipo-de-cambio-oficial-no-han-tenido-efecto.phtml
