Argentina Central Bank Raises Interest Rates to 97% to Fight Inflation

Argentina's central bank is taking drastic action to combat soaring inflation. On Monday, the Central Bank of Argentina hiked its base interest rate by six points to 97 percent, according to an official announcement. This aggressive move comes as the government prepares to announce a spate of measures to tackle soaring inflation.

Argentina's Central Bank escalates key interest rate to 97% in a dramatic attempt to combat a 30-year inflation peak. Will this bold strategy stabilize the Argentine peso? The Central Bank of Argentina has raised its key interest rate by six percentage points to 97 per cent in an effort to tackle soaring inflation that has reached a critical point.

The benchmark interest rate increase of 600 basis points aims to bring inflation under control, but the effectiveness of this measure remains to be seen. Argentina's central bank on Monday hiked its benchmark interest rate by 600 basis points to 97%, according to an official announcement, as the country battles to bring inflation down.

While initial reports suggested Argentina's central bank will raise the benchmark interest rate to 118% from 97%, the current increase lands at 97%. However, speculation continues about further adjustments to the rate and potential devaluation. Argentina's central bank on Monday hiked its benchmark interest rate by 600 basis points to 97%, according to an official announcement, as the country battles to bring its economy back on track.

This significant rate hike is a clear signal of the central bank's determination to curb inflation. We will continue to monitor the situation and provide updates on the Argentine economy and the fate of the Argentine peso.