Argentina slashes benchmark interest rate to 40%; seventh cut since December
Tweet
Share
E-mail
FILE PHOTO: An entrance to the Central Bank of the Argentine Republic is pictured in Buenos Aires, Argentina October 28, 2019. REUTERS/Ricardo Moraes
BUENOS AIRES (Reuters) - Argentina's central bank lowered the benchmark interest rate to 40% from 44% on Wednesday, the seventh cut since the country's new Peronist government took over in December.
The bank said the cut was based on a slowdown in inflation and that the move was aimed at helping revive economic growth, vital as the country looks to avoid defaulting on its debts.
(Graphic: Argentina guides rates back to earth png link: https://fingfx.thomsonreuters.com/gfx/editorcharts/ARGENTINA-ECONOMY/0H001PBLZ5K6/eikon.png)
(Reporting by Adam Jourdan; Editing by Tom Brown)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Exclusive-Anthropic IPO launch shifts toward mid-October, sources say
- Marking record tenure, Meloni hails Italy's turn to stability
- Nscale seeks about $3.5 billion pre-IPO funding, source says
Create E-mail Alert Related Categories
ReutersRelated Entities
Second Curve CapitalSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
