Argentina's Sturzenegger Aims to Tackle `Inflation Problem'
- Says central bank doesn’t target foreign exchange levels
- Sturzenegger was appointed by new president in December
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Argentina’s central bank is training its sights on inflation and regards the exchange rate as a cushion for the economy, its President Federico Sturzenegger said.
“The most important thing is to have a central bank that is focused on inflation and then let the exchange rate do its job of being a shock absorber for the economy,” Sturzenegger said in Shanghai, where he was attending the Group of 20 meeting. “Intervention is to correct spikes and developments that don’t bear relation with fundamentals, not to sustain an exchange rate that is off its equilibrium.”