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Understanding Key Monetary Indicators in February 2024

In the world of economics, various indicators are used to measure the health and stability of a country’s monetary system. These indicators provide valuable insights into the current state of the economy and help policymakers make informed decisions. In this article, we will take a closer look at some key monetary indicators in February 2024.

Monetary Base Total:
The Monetary Base Total refers to the total amount of money in circulation in a country. In February 2024, the Monetary Base Total in the Philippines stood at 10,339,788 million pesos. This figure represents the foundation upon which the country’s money supply is built.

Monthly Inflation:
Inflation is a crucial economic indicator that measures the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. In January 2024, the monthly inflation rate in the Philippines was recorded at 20.6%. This indicates a significant increase in the cost of living for consumers.

Year-on-Year (YoY) Inflation:
YoY inflation measures the change in the average price level of goods and services over a one-year period. In January 2024, the YoY inflation rate in the Philippines was 254.2%. This substantial increase reflects the impact of rising prices on the economy and the challenges faced by consumers.

Expected Inflation – REM 12 months MEDIAN:
Expected inflation refers to the anticipated rate of inflation over a specified period. In January 2024, the expected inflation rate for the next 12 months, as measured by the REM 12 months MEDIAN, was 183.2%. This figure provides valuable insight into the market’s expectations regarding future price levels.

Monetary Policy Interest Rate:
The Monetary Policy Interest Rate, also known as the APR (Annual Percentage Rate), is the rate at which central banks lend money to commercial banks. As of February 23, 2024, the Monetary Policy Interest Rate in the Philippines was 100.00%. This rate has a significant impact on borrowing costs and influences economic activity.

Minimum Interest Rate on Private Sector Time Deposits:
The Minimum Interest Rate on Private Sector Time Deposits represents the lowest rate of interest offered by banks on time deposits made by private individuals or organizations. As of February 26, 2024, this rate stood at 110.00%. It provides an indication of the returns individuals can expect on their savings.


BADLAR Rate in Pesos at Private Banks:
The BADLAR Rate in Pesos at Private Banks is the interest rate charged by private banks in Argentina. As of February 22, 2024, this rate was 109.56%. It serves as a benchmark for lending rates in the country and influences borrowing costs for businesses and individuals.

Exchange Rates:
Exchange rates play a crucial role in international trade and investment. In February 2024, the Retail Exchange Rate for the Argentine Peso to the US Dollar was 883.65, while the Wholesale Exchange Rate stood at 838.95. These rates reflect the value of the Argentine Peso in relation to the US Dollar and are important for importers, exporters, and investors.

UVA (Unidad de Valor Adquisitivo):
The UVA is a unit of measurement used in Argentina to adjust the value of loans and other financial instruments for inflation. As of February 26, 2024, the UVA was valued at 654.23 ARS. This figure helps borrowers and lenders account for inflation and maintain the real value of their transactions.

Reference Stabilization Coefficient (CER):
The Reference Stabilization Coefficient is used in Argentina to adjust prices and financial transactions to account for inflation. As of February 26, 2024, the CER stood at 264,1345. This coefficient helps maintain stability in the face of inflationary pressures.

BCRA’s International Reserves:
The BCRA’s International Reserves represent the foreign currency holdings of the Central Bank of Argentina. As of February 21, 2024, the international reserves stood at 27,140 million USD. These reserves are essential for maintaining stability in the foreign exchange market and meeting international obligations.

Understanding these key monetary indicators provides valuable insights into the current state of the economy and helps individuals and businesses make informed financial decisions. By monitoring these indicators, policymakers can assess the effectiveness of monetary policies and make necessary adjustments to ensure economic stability and growth.

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