Argentine central bank hikes rates as inflation reaches 30-year high

Central Bank of Argentina
Central Bank of Argentina
Photo: Banco Central de la República Argentina

The Central Bank of Argentina’s (BCRA) board of directors ordered a 200 basis point hike in the benchmark Leliq rate on May 12, bringing it to 49%. The move marked the fifth increase since January, amounting to 1,100bp in total.

Argentine authorities are trying to deal with double-digit inflation and meet the conditions of an International Monetary Fund loan approved in March. The national statistical institute reported that year-on-year inflation rose to 58% in April from 55.5% in March, the

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