"Rates of 40% are not sustainable, the Central Bank acted like a fireman to put out the fire"

The economist Fausto Spotorno affirmed that the interest rates at 40% which determined the Central Bank to contain the rise of the dollar, "are not sustainable" in time but noted that "are intended to put out the fire ".

" The reaction of the Central Bank was correct and forceful, it acted like a fireman, I do not believe that 40% rates are sustainable, but they are designed to put out the fire, then we will see how to return to normal " graficó in dialogue with Continental radio.

In his opinion, the monetary entity "got a goal stopping the exchange rate" and estimated that "the dollar can be maintained in $ 22 or $ 23, because it is close to the real price range "although he warned that "the runs are not cut in a day, it's like braking a race car" .

The economist of the consulting firm Orlando Ferreres y Asociados said that "Argentina is the most financially vulnerable of all the countries of the region, that is the reason why they hit us so hard " the changes that took place in recent days in the world economy, such as the rise in rates in the US and the appreciation of the dollar. [19659005] Spotorno considered that "this was the end of the carry trade " . "You could enter dollars into Argentina, sell them to buy pesos and invest in Lebacs, but then the dollar started to beat inflation, the Central Bank modified the rates and put a tax on foreign investments. that caused a major capital flight, now they will do the carry trade to other countries "he concluded.