Argentina hikes interest rate to 49% in bid to tame inflation

This advertisement has not loaded yet, but your article continues below. Author of the article: Article content BUENOS AIRES — Argentina’s central bank on Thursday said it hiked the country’s benchmark interest rate by 200 basis points to 49% as it tries to rein in surging inflation. The monetary authority’s move came after the government…
Argentina hikes interest rate to 49% in bid to tame inflation

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BUENOS AIRES — Argentina’s central bank on Thursday said it hiked the country’s benchmark interest rate by 200 basis points to 49% as it tries to rein in surging inflation.

The monetary authority’s move came after the government published inflation data earlier in the day showing inflation in the 12 months through April running at a 58% pace.

The 6% increase in consumer prices in April from the previous month landed slightly above analysts’ forecast for a 5.9% gain. (Reporting by Jorge Otaola; Writing by Gabriel Araujo; Editing by Christian Plumb and Leslie Adler)

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