Argentine governor acknowledges rate cuts were too abrupt
Sturzenegger acknowledges central bank loosened monetary policy too abruptly in late 2016
The governor of the Central Bank of Argentina, Federico Sturzenegger, acknowledged on August 16 that the loosening path of monetary policy initiated in May 2016 was too abrupt and caused inflation to rise above target.
The country now has recorded four consecutive quarters of growth at an annualised rate of 4%. Investment in durable goods reached 13% in real terms over the last year, and imports of capital goods rose by 19%. The construction sector expanded by 17%.
These developments, together
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