June 14, 2018 |
Argentina's central bank has kept its benchmark interest rate at 40% and said it would likely stay at this level until inflation decreases.
The bank's monetary policy committee (MPC) reiterated a hawkish guidance due to an unsettled FX background and unanchored inflation expectations.
According to a report from Alberto Ramos, an analyst with Goldman Sachs, the decision is the first step towards normalizing Argentina's monetary conditions.
"The MPC stated that new higher path for inflation target
Central bank keeps interest at 40%, reiterates hawkish guidance until inflation drops