Economy MInister Axel Kicillof today defended the government-fueled measure announced last week by Central Bank chief Alejandro Vanoli, which raised interest rates for fixed-term deposits in a move to encourage savings in pesos.
“It’s not a campaign against the illegal dollar,” Kicillof said and warned “these are regulations we have been implementing in the banking system.”
“We have raised the regulated interest rate which favors those who have formal money. The Central Bank works for people to access cheaper lines of credit but also to give more money to people,” Kicillof added.
Source: Buenos Aires Herald