Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Argentine Central Bank Cuts Rates to 40%

Wed 15 May 2024 | 11:54 PM
Taarek Refaat

The Argentine Central Bank has cut interest rates six times in a row to 40% from 50% amid continued decline in inflation, and this change in monetary policy comes since Javier Milei assumed the country's presidency last November.

Interest rates reached 133% in December.

Inflation fell on a monthly basis to 8.8% in April after it had reached 26% last December.

While Milei management expected prices to decline to 3.8% by September.