Argentina sharply raises key rate floor to tackle rising inflation

The Central Bank of Argentina
Photo: 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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