Argentina’s central bank reverses course on interest rates

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The Central Bank of Argentina (BCRA) has raised interest rates by 150 basis points, amid fears inflation could rise sharply in the coming months.

Indicators from the private sector, in addition to central bank forecasts, suggest inflation will continue to rise from its March level of 2.4% – to the extent that it will be “higher than the compatible path” for monetary policy, the central bank says in a statement published on April 10.

“As a result of all available information, the BCRA considers

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