Argentine central bank hikes rates as inflation reaches 30-year high

Central bank makes optimistic comments on inflation path

Central Bank of Argentina
Central Bank of Argentina
Banco Central de la República Argentina

The Central Bank of Argentina’s (BCRA) board of directors ordered a 200 basis point hike in the benchmark Leliq rate on May 12, bringing it to 49%. The move marked the fifth increase since January, amounting to 1,100bp in total.

Argentine authorities are trying to deal with double-digit inflation and meet the conditions of an International Monetary Fund loan approved in March. The national statistical institute reported that year-on-year inflation rose to 58% in April from 55.5% in March, the

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