Argentina’s central bank on Tuesday raised the reserve requirements that banks must hold by 3.5% - the third increase in recent weeks. The change, which takes effect on September 1, will apply to a range of existing reserve requirement rates that currently average around 45%. Analysts warn that the rising levels could risk slowing the economy, as reported by Reuters. The move is seen as an attempt to calm markets as President Javier Milei’s government faces corruption allegations ahead of key legislative elections. Analysts noted that the reserve ratio is approaching an unusually high level of 50%, which could hamper hopes for an economic recovery. The measure will allow banks to integrate the reserve requirements through peso-denominated securities that the treasury will place in a tender set for Wednesday, for an amount of approximately 7.7 trillion pesos ($5.79 billion).