Summary
As indicated in its Organic Charter, the Central Bank of the Argentine Republic “aims to promote, to the extent of its powers and within the framework of the policies established by the National Government, monetary stability, financial stability, employment and economic development with social equity”.
This mandate explicitly establishes that the Central Bank has multiple objectives: to achieve a low and stable level of inflation, to ensure financial stability, and to ensure that the economy is on a path of sustained growth with high levels of employment.
The main contribution that monetary policy can make is to find an adequate balance between the objectives pursued by the monetary authority, and to use all available instruments to minimize possible conflicts between them.
To guide its economic policy decisions, the BCRA continuously monitors the economic dynamics and structural trends of the national economy. To this end, the Central Bank presents various publications that reflect part of its analyses, including the Monetary Policy Report.
The report is published quarterly and includes a first chapter with the institutional vision and an executive summary in which the reasons for monetary policy decisions are briefly described and the national and international economic situation is analyzed, topics that are analyzed in depth in the following sections of the report: international context, economic activity, employment and income, external sector, prices and monetary policy.
