Argentina reduces policy rate for first time since May
Analyst says 500bp cut means country is unlikely to lift currency controls soon
The Central Bank of Argentina (BCRA) on November 1 reduced its policy rate by 500 basis points to 35%.
The BCRA had been holding the overnight reverse repurchase rate at 40% since May. This became the central bank’s policy rate in December 2023, when it replaced the Leliq rate.
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