Reuters was first to report that Argentina’s central bank would hike the benchmark interest rate 600 basis points to 97% after inflation overshot expectations in April to hit 109% on an annual basis. The latest huge hike, part of a package of emergency measures to rein in prices and bolster a weak local peso currency, was confirmed a day later by the South American country’s central bank.
Business & Finance
Argentina plans new rate hike, more FX intervention as inflation soars
14 May 2023, 7:31 pm 1 minute
Interest rates increased 600 basis points to 97%.
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceFX & Fixed Income
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story