Argentina sharply raises key rate floor to tackle rising inflation

The Central Bank of Argentina
Javier Pierini

The Central Bank of Argentina (BCRA) tightened its monetary policy framework on September 18 in a bid to tame rising inflation resulting from an increasingly weak peso.

The monetary policy committee unanimously decided to increase the lower limit for its benchmark interest rate from 58% to 78% for the rest of September. In October, the limit will be 68%, a level the central bank deems “consistent with market projections regarding a slowdown in the inflation rate”.

“Faced with the rise in

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