Argentina toughens monetary targeting on higher inflation

The Central Bank of Argentina
Javier Pierini

Higher inflation in Argentina in February forced authorities to extend monetary base targeting until the end of 2019, the governor of the Central Bank of Argentina (BCRA) revealed on March 14.

Month-on-month inflation was 3.8% in February, up from 2.8% in January, according to official statistics. This is the largest monthly increase since September 2018, when prices rose by 6.5%, forcing authorities to abandon the inflation-targeting regime and restrict the monetary base instead.

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