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BCRA Seem Content With Core Inflation In Statement

ARGENTINA
  • Following the BCRA leaving rates unchanged, they highlighted these inflation developments:
    • "The monthly acceleration in the rate of increase in the CPI was explained almost entirely by increases in the Seasonal (mainly vegetables and tourism) and Regulated (especially transport, gas and communication) categories, while Core inflation, which reflects the more relevant behaviour of the general price level, stood at a level similar to that of December (5.4%. +0.1 p.p.)."
    • "In this way, interest rates remain in positive territory in real terms, which guarantees the protection of savings in pesos and helps to keep exchange expectations anchored, favoring the disinflation process."
  • The board added a usual caveat that they "will continue to monitor the evolution of the general price level and the dynamics of the foreign exchange market in order to calibrate its interest rate policy and liquidity management."

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