Argentina halts monetary base expansion to lower inflation, says minister

BUENOS AIRES (Reuters) - Argentina will cease expanding its monetary base as part of the government's campaign to combat inflation, Economy Minister Luis Caputo said on messaging platform X on Saturday.

"From now on the amount of money remains the same or is reduced if the central bank (BCRA) sells dollars" in the official exchange market known as the MULC, Caputo wrote.

"If the BCRA buys dollars in the MULC, the issuance of equivalent pesos will be sterilized with the sale of equivalent dollars in the cash with liquidation (CCL) market," a market where dollar transactions are settled in cash, Caputo wrote.

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