Argentina Cuts Interest Rates To 80% As Inflation Cools
The Central Bank of Argentina announced a significant decrease in its benchmark interest rate, reducing it from 100% to 80%.
This decision comes at a time when monthly inflation rates are beginning to decrease and the Argentine peso is gaining strength against the US dollar in parallel markets.
Argentina inflation trends
Despite facing an annual inflation rate exceeding 250%, the monetary authority pointed to various reasons for this rate cut, including the successful accumulation of reserves.
With the anticipation of the Argentina statistics agency releasing the February inflation data, experts are predicting a continuation of the cooling trend, with consumer price gains expected to be around 15% for the month.
However, the inflation rate for the year is projected to surpass 280%.
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