The sixth interest rate hike in Argentina during the year to cope with inflation

The Central Bank of Argentina announced on the 16th that the benchmark interest rate was raised from 49%to 52%.This is the sixth time to raise interest rates this year by the Argentine Central Bank.

The Argentine Central Bank issued a statement on the same day that although inflation has begun to slow down, in order to stimulate its currency savings, the central bank chose to raise interest rates again.

According to data released by the National Institute of Statistics and Census on the 15th, the country's monthly inflation rate reached 5.1%, and the cumulative inflation rate has been 29.3%since this year.

The Argentine Central Bank raised interest rates once in January, February, March, April, and May of this year. The adjustment of the benchmark interest rates was 40%, 42.5%, 44.5%, 47%, and 49%, respectively.

Source: CCTV News Client

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