Argentina cuts rates by 300bp to 29%
Central bank will also slow peso’s monthly devaluation rate, starting from next week
The Central Bank of Argentina (BCRA) has reduced its policy rate by 300 basis points as inflation in the country continues to slow.
The BCRA on January 30 brought its benchmark interest rate down from 32% to 29% – a decision it said was based on lower inflation expectations.
Year-on-year headline inflation fell in December to 117.8%, compared with 166% the previous month. Month-on-month headline inflation rose slightly over the same period to 2.7%, compared with 2.4% in November.
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