November 1, 2016 / 9:32 PM / 2 years ago

Argentina central bank holds policy rate steady for 6th straight week

Nov 1 (Reuters) - Argentina’s central bank kept its reference rate unchanged at 26.75 percent for the sixth straight week on Tuesday as it said recent indicators suggested inflation was falling in line with its expectations.

The bank said in a statement it would continue focusing on combating inflation to make sure it meets its target of 1.5 percent monthly inflation in the final quarter of the year.

Consumer prices rose 1.1 percent in September and 0.2 percent in August, lower than earlier months in the year largely because the Supreme Court ordered the government to suspend subsidy cuts that had lifted home heating gas prices. Those cuts have since been restored, likely resulting in higher inflation.

Economists expect inflation to reach nearly 40 percent in 2016 and 20 percent in 2017. The bank’s inflation target for next year is 12 percent to 17 percent, while the government sees it at 17 percent. (Reporting by Luc Cohen; Editing by James Dalgleish)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below