28D
{{Short description|Political situation in Argentina}}
28D is the term used to refer to the 28 December 2017 press conference of the Central Bank of Argentina together with the Treasury in which they changed their inflation target. This event is the beginning of the loss of confidence that sparked the beginning of the 2018 Argentine monetary crisis.{{Cite web|url=https://www.ft.com/content/998cc79c-d8c5-4401-a3f9-7f13673952fd|title=Rethinking Argentina’s debt|website=www.ft.com}}{{Cite web|url=https://www.cronista.com/finanzasmercados/A-un-ano-del-28D-el-dia-en-que-el-BCRA-perdio-la-confianza-del-mercado-20181227-0055.html|title=A un año del 28D: el día en que el BCRA perdió la confianza del mercado|website=El Cronista}}{{Cite web|url=https://www.economist.com/the-americas/2018/05/03/the-crisis-of-argentine-gradualism|title=The crisis of Argentine gradualism|via=The Economist}}{{Cite web|url=https://www.infobae.com/economia/2019/12/28/28d-a-dos-anos-de-un-hito-de-la-fallida-gestion-economica-del-gobierno-de-macri/|title=28D: a dos años de un hito de la fallida gestión económica del gobierno de Macri|date=28 December 2019|website=Infobae}}{{Cite web|url=https://www.infobae.com/economia/2021/07/16/lo-que-nos-gastaron-sturzenegger-ironizo-sobre-la-inflacion-anual-de-50-y-tomo-revancha-por-las-criticas-a-su-gestion/|title=“Lo que nos gastaron”: Sturzenegger ironizó sobre la inflación anual de 50% y tomó revancha por las críticas a su gestión| date =16 July 2021| website = Infobae}}
Background
Inflation in 2017 was 25% and the Macri's administration was coming off a major victory in the legislative elections.
{{cite news|title=Argentina’s Leader, Mauricio Macri, Bolstered by Election Results|url=https://www.nytimes.com/2017/10/22/world/americas/argentina-election-mauricio-macri.html|author= Daniel Politi|newspaper=New York Times|date=22 October 2017}}
On 28 December, the change in inflation targets for 2018 was announced, which was 10% annually and was raised to 15%.{{Cite web|url= https://www.lanacion.com.ar/economia/expectativa-por-la-conferencia-de-prensa-del-equipo-economico-en-casa-rosada-nid2096045|title=El Gobierno anunció cambios en las metas de inflación: "Para 2018 será del 15 por ciento"| date=28 December 2017|website=Diario La Nación}}
Many read this measure as it was an advance{{Clarify|date=June 2024}} of the Chief of Cabinet and the Ministers of Treasury and Public Finance on the independence of the Central Bank.{{Cite web|url=
https://www.infobae.com/opinion/2017/12/28/el-banco-central-fue-intervenido/|title=El Banco Central fue intervenido|date=22 October 2017|website=Infobae}}
Bibliography
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Category:2017 in economic history
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