Argentina's central bank is moving toward a more flexible peso regime starting in January—a pragmatic shift that finally tackles one of the major vulnerabilities haunting Milei's broader economic liberalization push. The approach looks cautious but intentional. Pegging currencies too rigidly often backfires during macroeconomic shocks, creating artificial price distortions that eventually unwind violently. By allowing the peso breathing room to adjust based on supply and demand, Buenos Aires signals it's taking market dynamics seriously. Whether this helps stabilize the economy or simply delays deeper structural adjustments remains to be seen, but it's definitely a step toward reality-based policymaking rather than wishful thinking.