October 10, 2017 / 8:26 PM / a year ago

Argentina central bank holds policy rate at 26.25 pct

BUENOS AIRES, Oct 10 (Reuters) - Argentina’s central bank held its benchmark seven-day interbank lending rate unchanged at 26.25 percent on Tuesday, the monetary authority said in a statement.

The decision came after a survey of economists published last week showed median inflation expectations of 22 percent for 2017 and 15.8 percent for 2018, above the central bank’s target ranges of 12-17 percent and 8-12 percent, respectively.

“While core inflation in the third quarter should be slightly lower than the preceding quarters, it remains above the levels the monetary authority is seeking,” the central bank statement read.

The bank said September consumer prices were likely to be affected by increases in regulated prices, while available indicators suggested inflation would decelerate in October.

The government was expected to publish September inflation data on Thursday. (Reporting by Luc Cohen; Editing by Jonathan Oatis)

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