The Central Bank of the Argentine Republic (BCRA) has announced it will resume publishing its Monetary Policy Report (IPOM) on a quarterly basis. This initiative begins with the report covering the last quarter of 2025 and aligns with communication practices commonly used by major central banks.
According to the BCRA, the IPOM is intended to enhance transparency and communication regarding monetary policy. The report provides an assessment of both domestic and international macroeconomic conditions, outlines future outlooks, and explains monetary policy decisions aimed at achieving price stability. It includes chapters focused on macroeconomic context, price developments, and monetary policy actions, as well as thematic boxes and technical appendices for deeper quantitative analysis.
“The publication, which starts with the volume corresponding to the last quarter of 2025, adopts the usual practice of major central banks in terms of communication,” stated the BCRA.
The bank emphasized that its current stabilization program differs from previous efforts by making sustained progress in correcting inherited macroeconomic imbalances while honoring pre-existing contracts. Fiscal balance has been established, monetary financing to the Treasury eliminated, relative price distortions corrected, and the Central Bank’s balance sheet improved. These measures have contributed to reduced inflation and enabled a more flexible foreign exchange market.
The BCRA noted that consistent fiscal, monetary, and exchange rate policies have led Argentina’s economy toward short-term equilibrium. The prospect of structural reforms is seen as reinforcing long-term sustainability expectations. “In this regard, the BCRA will continue advancing regulations that facilitate efficient and prudent development of currency competition regimes,” according to the release.
The Central Bank has adopted a framework focused on controlling monetary aggregates as a nominal anchor for economic management. This approach takes into account Argentina’s post-crisis transition and high dollarization levels—factors that affect how interest rates, exchange rates, and money supply interact compared to economies in steady states.
For 2026, authorities believe conditions are right to prioritize meeting money demand through foreign currency purchases to support reserve accumulation goals. The BCRA described this environment as being marked by fewer conflicts between economic objectives than those present in 2024 and 2025.
However, it cautioned that changing global and domestic conditions continue to pose challenges for monetary policy management: “Following its charter mandate, the BCRA board will strive to preserve price stability using all available monetary policy tools.”
A PDF version of December 2025’s Monetary Policy Report is available on their official website.
