The BCRA Will Continue Monitoring Inflation and the Forex Market

The Board of the BCRA has decided to keep the monetary policy interest rate unchanged due to the development of prices in September, particularly, the core CPI, whose variation of 5.5% was lower than the general index.

The BCRA considers that the benchmark interest rate helps to consolidate financial and foreign exchange stability, and will continue monitoring the development of prices within the framework of the process to normalize monetary policy.

The Board of the BCRA especially focuses on the past and prospective development of the general level of prices and the forex market dynamics.

In addition, coordinated efforts with the Argentine Ministry of Economy are taken to ensure reasonable spreads between the BCRA's interest rate structure and the National Treasury bills.

The BCRA will continue to actively use the monetary policy interest rate and the regulated structure of lending and deposit interest rates, as well as all other available instruments. The BCRA is also committed to closely monitoring the development of monetary aggregates, and to intervening in the market to avoid excessive financial volatility, which could have a negative impact on price formation.

October 20, 2022

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