Argentina central bank holds policy rate at 28.75pc

BUENOS AIRES: Argentina's central bank held its benchmark seven-day interbank lending rate unchanged at 28.75 percent on Tuesday, the monetary authority said in a statement.

A survey of economists published last week showed median inflation expectations had risen to 23.5 percent for 2017 and 16.6 percent for 2018, above the bank's target ranges of 12-17 percent and 8-12 percent, respectively.

Consumer prices in Argentina rose 1.4 percent in November, bringing the national inflation rate to 21 percent for the first 11 months of the year, according to government data released earlier on Tuesday.