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Argentina's central bank holds benchmark rate at 26.75%

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Argentina's central bank holds benchmark rate at 26.75%

on Oct. 4 decided to leave its 35-day benchmark Lebac interest rate unchanged at26.75%, citing continuing disinflation.

The bankpreviously cut its benchmarkrate by 50 basis points on Sept. 20.

In astatement, the central bank said the general monthly inflation outlook for the remainingmonths of 2016 is slightly above its target of 1.5% or below, but that core inflationis closer to this target.

In addition,consumer price indicators and projections for the coming months show that pricesare in line with the "disinflationary path" established by the bank, whileprojected core inflation for 2017, which is around 17%, is declining.

In thiscontext, the central bank decided to leave its benchmark interest rate at 26.75%  and said it would maintain its anti-inflationarybias to ensure the continuation of the disinflation process and monthly inflationof 1.5% or less in the fourth quarter.