August 7, 2018 / 8:17 PM / 3 months ago

Argentina central bank holds benchmark rate at 40 pct, changes tool

BUENOS AIRES, Aug 7 (Reuters) - Argentina’s central bank held its benchmark interest rate at 40 percent, it said in a statement on Tuesday, adding that it was now treating the interest rate on seven-day ‘Liquidity Notes,’ or Leliq, as its benchmark policy rate.

Since the beginning of 2017, the central bank has treated the seven-day interbank lending rate as the benchmark interest rate. Before that, it set monetary policy using short-term securities known as Lebacs.

Reporting by Luc Cohen

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