BUENOS AIRES, March 14 Argentina's central bank
issued $18.18 million in short and medium term local currency
debt on Tuesday and set a yield for 35-day bonds at 22.25
percent compared to 22.75 percent last month.
That is below the bank's benchmark policy rate of 24.75
percent. Until this year the central bank tied its monetary
policy rate to the Lebac securities.
The central bank is now issuing the so-called Lebac bonds on
the second Tuesday of every month and as of March is separately
publishing the seven-day interbank lending rate as its benchmark
monetary policy rate every other week.
The bank began targeting inflation last year, breaking with
unorthodox monetary policymakers under Argentina's previous
(Reporting by Walter Bianchi and Caroline Stauffer; Editing by