Argentina plans new rate hike, more FX intervention as inflation soars  

by DailyBriefers

Business & Finance

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. 

Market Impact

Interest rates increased 600 basis points to 97%.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & FinanceFX & Fixed Income

Regions: Americas

Countries: Argentina

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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