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BCRA Hikes 300 Basis Points On Thursday To Fight Inflation

  • As a reminder, Argentina's central bank raised its benchmark interest rate by the most in three years on Thursday, hot on the heels of a major hike by the U.S. Federal Reserve and as the South American country firefights sky-high inflation running at over 60%.
    • As mentioned at the time, the move had largely been expected following official comments earlier in the week and given the timeline of previous hikes following the latest set of inflation data.
  • The central bank upped the benchmark Leliq rate by 300 basis points to 52%, the sharpest rise since 2019, citing rising perception of financial risk, soaring global prices and the need to spur saving in the hard-hit local peso currency.

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