In February, the monetary base showed a contraction of 2.9% higher than $ 72 billion, to settle at $ 2.08 trillion. Despite this, the year-on-year comparison still reflects an average nominal increase of 39%, which is mainly explained by the significant expansion that it had shown until the middle of last year, because of the expenses generated by the pandemic. According to private analysts, the contraction is not a positive sign, but a reflection that the demand for money is not recovering. It is also expected that, if this contractionary dynamic continues, there could be a relief to inflationary pressures in 2021.