For the eighth straight week, Banco Central de la República Argentina, on Jan. 24 decided to hold its benchmark interest rate at 24.75%.

In its decision, the central bank cited recent data released from the province of San Luis that, in addition to previously released data, confirms the disinflation process observed in the second half of 2016.

The regulator reaffirmed its Jan. 17 forecast for lower inflation rates in the coming months, but noted that estimates and high frequency indicators from state and private sources showed mixed signals on the evolution of prices in the past days of January, which requires a "clear anti-inflationary bias to ensure that the disinflation process continues towards its inflation target between 12% and 17% in 2017."