The measures aim to contain the U.S. dollar price ahead of the midterm elections

Analysts also fingered Milei’s monetary policy for Monday’s fall in bonds and stock values

The lower house vote and the administration’s erratic monetary policy have created volatility in the market

A new bond auction is scheduled for next Monday and banks’ reserve requirements will increase after Wednesday’s bid ended with a 61% rollover rate

The administration granted instruments for US$7 billion with rates as high as 69%

The figure announced by the INDEC was the second consecutive month-to-month rise

The Finance Ministry announced a tender for August 13, with bids from Lecaps, Boncap, Dólar Linked, and Boncer

A report by the Argentine Chamber of Medium-size Enterprises showed retail sales fell 2% year-over-year and consumption remained flat with drops in most sectors and increasingly tighter margins

The president’s decision comes after he vetoed laws passed by Congress increasing pensions and disability funds