ARGENTINA: Central Bank Holds Main Interest Rate Steady

(RTTNews) - The central bank of Argentina kept its main interest rate unchanged at 26.25%, even after data showed that in May the inflation rate was lower than in the previous month.

BCRA has tightened monetary policy through market operations since early March and increased the policy rate on April 11 to ensure that the process of disinflation continues toward the 12% to 17% target for 2017.

"BCRA will continue to monitor price evolution pace, seeking to place its interest rate in the range necessary to consolidate the process of disinflation," the statement said.