The monetary authority considered that “Keeping the reference rate unchanged will contribute to consolidating financial and exchange rate stability and reinforcing the trend of gradual slowdown in inflation in the medium term.”
The BCRA ratified its interest rate normalization policy in accordance with the provisions of its Objectives and Plans for 2022where he marked his “objective of gradually achieving a positive real interest rate that is an effective protection for savings in pesos, as well as an important instrument for anti-inflationary policy.”
“This rate policy is developed in active coordination with the Ministry of Economy of the Nation so that the interest rate structure of the BCRA presents a reasonable relationship with those of the National Treasury Bills,” he said.
In line with the Objectives determined by the BCRA Board of Directors, “The commitment to continuous monitoring of the past and prospective evolution of the general level of prices and the dynamics of the exchange market is maintained.”
To this end, the Central Bank maintained that “will continue to actively use the monetary policy interest rate, the structure of regulated passive and active rates, as well as all other available instruments. In this sense, it maintains the commitment to carefully observe the evolution of monetary aggregates, as well as interventions that aim to avoid excessive financial volatility that could have a negative impact on price formation”.
Source: Ambito
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