Argentina holds rates for first time this year

The Central Bank of Argentina
The Central Bank of Argentina
Javier Pierini

The Argentine central bank board held interest rates at 75% at its October 20 meeting for the first time this year.

The central bank has been pursuing “a process of monetary policy normalisation” since the beginning of 2022, hiking rates in nine consecutive monthly meetings. In total, the Central Bank of Argentina (BCRA) has nearly doubled its headline rate this year, from 38% to 75%.

In its monetary policy press release, the board said it held rates because core inflation rose less month on

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