The BCRA kept the monetary policy rate unchanged

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Summary:

The Central Bank of the Argentine Republic (BCRA) has decided to maintain its monetary policy rate at 118% (209% effective annual rate) citing increased volatility in financial markets and a recalibration of the official exchange rate. The monthly inflation rate was 12.4% in August, driven by price adjustments, but high-frequency indicators suggest a slowdown in the general price level since the third week of August. The BCRA aims to achieve positive real returns on local investments to maintain monetary and exchange rate stability. The bank will continue to monitor price levels, currency market dynamics, and monetary aggregates to calibrate its interest rates and liquidity management policies.