May 7, 2018 |
Argentina's central bank has intervened with another rate hike on Friday, this time lifting the montary policy by 675bp to 40%.
The increase, Argentina's third in a little over a week, comes less than 24 hours after the monetary policy committee (MPC) hiked the benchmark interest rate by 300bp.
The move reflects the increased pressure on the Argentine peso, which was spotted at ARS21.86 to the dollar on Friday afternoon, and comes in response to heightened financial market risk management cons
Central bank returns less than 24 hours later with a 675bp increase in monetary policy to shore up the depreciating peso