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Argentina Cuts Interest Rate for Sixth Time to 40% as Inflation Slows

Posted on AllSides May 14th, 2024
From The Left

Argentina cut its benchmark interest rate Tuesday for a sixth time under President Javier Milei as his government sees inflation edging lower while it shrinks the central bank’s balance sheet.

The monetary authority lowered its key rate to 40% from 50%, according to a statement published on its website. Borrowing costs have now fallen from a high of 133% last December.

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