Skip to content
Politics
Economics

Argentina Raises Its Key Interest Rate to 52% as Inflation Spikes

  • Argentine central bank increased key rate by 300 basis points
  • Sixth rate hike this year as annual inflation goes above 60%
The Central Bank of Argentina in Buenos Aires, Argentina, on Monday, Dec. 6, 2021.

The Central Bank of Argentina in Buenos Aires, Argentina, on Monday, Dec. 6, 2021.

Photographer: Erica Canepa/Bloomberg
Updated on

Argentina’s central bank lifted its benchmark interest rate Thursday for the sixth time this year to 52% as the government struggles to cool inflation expectations. 

The monetary authority raised the key Leliq rate by 300 basis points, according to a statement. The central bank also raised the minimum rate on fixed-term deposits for savers to 53%.