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Argentina's central bank holds benchmark rate at 26.25%

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Argentina's central bank holds benchmark rate at 26.25%

Banco Central de la República Argentina left its benchmark interest rate unchanged at 26.25%, Reuters reported, citing a statement from the central bank.

The bank said that while core inflation should be slightly lower in the third quarter compared to the previous quarters, it remains above target levels.

A survey of economists published last week showed median inflation expectations of 22% for 2017 and 15.8% for 2018, according to Reuters. The bank's target ranges were 12%-17% for this year and 8%-12% for next year.

Consumer prices in September were likely affected by increases in regulated prices, the bank said. Available indicators also suggested that inflation would decelerate this month.