Economics
Argentina Cuts Key Rate for Fifth Time Under Fernandez
- Central bank lowered benchmark rate floor to 48% from 50%
- Rates are below annual inflation that’s hovering above 50%
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Argentina’s central bank lowered the floor of its benchmark interest rate for the fifth time under President Alberto Fernandez in an effort to stimulate growth and make credit more accessible.
The rate floor was cut to 48% on Thursday from 50%. Central bank chief Miguel Pesce has lowered it from 63% since taking office Dec. 10.