Argentina to Extend Currency Band in 2019, Likely Adjust Less
- Currency band to be adjusted ‘a little less’ than 3% in 2019
- Policy, political uncertainty in Brazil, Argentina pose risks
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Argentina’s central bank will extend the use of a currency trading band into next year and will likely manage peso fluctuations less than at present, a sign the country’s IMF-backed monetary policy is bearing fruit as the end of a harrowing year draws near.
"We are going to continue working with zones of intervention and non-intervention during next year," Argentine central bank President Guido Sandleris told Bloomberg in an interview in Buenos Aires late on Friday. The pace of adjustment will likely be "a little bit lower than it is now. Right now it’s at 3 percent. It could be a little less."