Argentina cuts rates, but keeps focus on inflation

Central Bank of Argentina
Central Bank of Argentina
Banco Central de la República Argentina

The Central Bank of Argentina (BCRA) cut rates on January 9 by a smaller margin than markets expected, as it attempts to retain its independence to fight inflation while the government focuses on growth.

The central bank reduced the key seven-day repurchase rate by 75 basis points to 28%, while markets had anticipated a bigger cut of 125bp. Expectations for a looser policy came after the government decided to lift the inflation target on December 28.

The new inflation target for 2018 is 15%, f

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