Argentina plans new rate hike, more FX intervention as inflation soars  

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Reuters was first to report that Argentina’s central bank would hike the benchmark interest rate 600 basis points to 97% after inflation overshot expectations in April to hit 109% on an annual basis. The latest huge hike, part of a package of emergency measures to rein in prices and bolster a weak local peso currency, was confirmed a day later by the South American country’s central bank. 

The post Argentina plans new rate hike, more FX intervention as inflation soars   appeared first on Reuters News Agency.

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