BUENOS AIRES Feb 14 Argentina's central bank
kept its monetary policy rate unchanged at 24.75 percent for the
eleventh consecutive week on Tuesday, saying consumer price
expectations showed "mixed signals."
Consumer prices in greater Buenos Aires rose 1.3 percent in
January, far below expectations.
Even so, the monetary authority "considered it convenient to
maintain a cautious attitude," the central bank statement said.
Inflation expectations for 2017 fell slightly to 20.8
percent, a central bank poll of economists showed last week,
down from 21 percent a month earlier but well above the bank's
The bank is targeting inflation of between 12 percent and 17
percent in 2017. Consumer prices rose about 40 percent in 2016
with the economy in recession.
Beginning in March, the central bank will make interest rate
decisions every two weeks, rather than every week, as it moves
to normalize monetary policy.
(Reporting by Caroline Stauffer; Editing by Marguerita Choy)