Argentina raises rates

Argentina raises rates

Corporate & Sovereign Strategy Argentina Economy & Policy

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

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