April 13, 2017 |
Argentina's central bank raised its benchmark lending rate by 150bp to 26.25% after keeping it on hold for four months.
Consumer prices rose 2.4% month-on-month in March, following a 2.5% increase in February, according to the official statistics agency INDEC. Accumulated inflation climbed 27.8% in Q1 this year, well above the central bank's target range of 12% to 17% for 2017.
Consumer prices in April will likely remain high, but the increased interest rate is consistent with bringing inflation
Central bank increases the benchmark by 150bp after keeping it on hold for four months