July 25, 2014
‘It’s about time the Central Bank properly regulated interest rates’
In his daily press briefing Cabinet Chief Jorge Capitanich criticised financial institutions that charge “abusive rates” and said it was about time “the Central Bank properly regulated” the matter.
“The State will intervene,” Capitanich asserted, arguing against corporate interests who aim to “reduce the consumer’s purchasing power”.
He referred to the new official Price Index (IPC) methodology and bashed economic and opposition groups for creating their “false indexes” with “inconsistent methodology and not rooted in reality” in order to “favour the financial system”.
“That is the strategy of economic and financial groups in Argentina. The people should know,” the Kirchnerite official said, explaining higher alternative price indexes seek to encourage devaluation.
Asked about the labour conflict with the Banking Association, that announced a 48-hour walkout for next Thursday, Capitanich said the government is working to reach “a reasonable solution” to a dispute that began on May 13 when a group of bank workers were fired from Tucumán province’s Caja Popular bank.