Thursday, September 28, 2023
HomeEconomyArgentina hikes rates by 550 bps after inflation overshoots

Argentina hikes rates by 550 bps after inflation overshoots

Jorge Otaura

BUENOS AIRES (Reuters) – Argentina’s central bank sets the country’s benchmark interest rate 550 The basis point was revised up to

% Thursday, the day after inflation beat expectations by nearly 28 % y/y.

The rate hike is on 950 August 28 day Leliq base rate hike in basis points as the government tries to lower The price spiral that is hurting Argentina’s savings

Positive real interest rates are also one of the points that Argentina agreed with the International Monetary Fund (IMF) in a new The country needs to meet its upcoming debt repayment obligations in the 44 $100 million loan agreement.

Reuters reported in early September, citing sources familiar with the discussions, that Argentina’s central bank plans to raise interest rates this month to 75 due to high interest rates % inflation level.



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