Economics
Argentina Lowers Key Rate to 40% Extending World’s Deepest Cuts
- Central bank has reduced key rate by 23 percentage points
- Inflation cooled as government froze some prices in January
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Argentina’s central bank extended the world’s deepest series of interest rate cuts, in an attempt to revive the shrinking economy.
Policymakers cut the key rate floor -- the minimum level that rates are allowed to fall -- to 40%, from 44%, the bank said in a statement.