No official inflation data was published over last week. The estimates and high-frequency indicators from public and private sources monitored by the BCRA suggest that, during November, prices were in line with the goal, set in May, of a 1.5% or lower average inflation rate (equivalent to 19.6% or lower annualized rate) in the last quarter of 2016.
In view of the available data, the BCRA reduced the 35-day LEBAC rate and the center of the repo corridor by 50 basis points, which reached 24.75%.
Thus, the BCRA expects the real interest rate to remain at a level consistent with the planned disinflation process: an intermediate target of 1.5% per month or lower for the last quarter of 2016, and a target between 12% and 17% for 2017.
The BCRA will continue taking anti-inflationary measures to ensure a sustained disinflationary process towards its objective.
