Guido Sandleris said that he would defend the dollar price and admitted: "Inflation will increase in August and September"

The president of the central bank, Guido Sandleris, confirmed that The monetary entity will continue its policy of intervention in the market contain the dollar He admitted, however, that the recent escalation of the US currency would have a negative impact on prices: "Inflation will increase in August and September".

"We have just reaffirmed the direction of monetary policyhe said at the beginning of his speech.The presentation took place a few minutes after the new Finance Minister, Hernán Lacunza, stressed that " a higher exchange rate is not necessary ".

Monetary Policy

Sandleris said that exchange stability is the "primary objective" of its management and confirmed that the Central Bank will continue the intervention system "to the extent that the conditions require it". In this part of his presentation, he launched: "We believe that it is very important to reduce the nominal volatility that the economy faces".

In this part of his presentation, Sandleris spoke of Argentina's international reserves. "They are aimed primarily at moderating the volatility of the exchange rate and at ensuring the stability of the financial system", he said, stating:" They will not be used to hold financial badet ratings away from their economic foundation. "

In turn, the head of the BCRA stated that the current value of the dollar, which sells for $ 57 at Banco Nación, "This corresponds to the current economic scenario" and stressed that it was a "competitive" price.

L & # 39; inflation

Before answering questions from journalists, Sandleris confirmed that the sharp rise in the dollar "would have a negative impact on prices" and said that there would be increases in the months of August and September. "The context has changed and the coming months will be difficult," he said.

The head of the BCRA regretted that the fall in inflation recorded in recent months is "modified" by the stress of exchange rate.