Argentina orders 1,000bp rate hike as peso struggles

Central bank tightens for second time in a week

The Central Bank of Argentina
The Central Bank of Argentina
Photo: Javier Pierini

The Central Bank of Argentina (BCRA) raised its policy rate by 10 percentage points on April 27, to 91%. This is the second increase in a week and the third since March.

“The decision of the monetary authority is aimed towards the goal of real positive returns on investments in the local currency,” the central bank said.

The move comes as the decline of the peso has intensified in recent days. Between April 11 and April 25, the peso’s value on informal markets – the “blue dollar” – fell from

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