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ARGENTINA: Central Bank Keeps Main Interest Rate Unchanged At 26.25%

(Agencia CMA Latam) - The central bank of Argentina kept its main interest rate unchanged at 26.25%, given that indicators from private and state sources monitored by the monetary authority suggest that inflation in July was higher than in June and that the disinflation process would resume in August.

"Given the core inflation persistence at levels higher than those sought by the monetary authority, which the BCRA has already warned, these developments should be taken with caution," the Argentinean central bank said in a statement.

The BCRA also reiterated that the benchmark interest rate rise in April, combined with the lower expected inflation for the rest of the year, led to an increase in the real interest rate.

"The monetary authority considers appropriate not to reduce this anti-inflationary bias," the central bank said.

Once again, the Argentinean central bank said in a statement that it would continue to maintain a clear anti-inflationary bias to ensure that the disinflation process continues towards its inflation target.

by Agencia CMA Latam

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