Argentina's central bank unexpectedly cut its benchmark interest rate from 100% to 80%.
Argentina's central bank unexpectedly cut its benchmark interest rate from 100% to 80% amid declining monthly inflation rates and a strengthening peso against the US dollar. The move contrasts with the International Monetary Fund's guidance for Argentina to tighten its monetary policy. Despite annual inflation of over 250%, monthly inflation is projected to decrease from 21% in January and 26% in December, with February figures expected to show a 15% increase.
March 12, 2024
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