Central Banks
Argentina Cuts Rates to 50% as Milei Wrestles Inflation Down
- Borrowing costs have been reduced five times since December
- Government aiming to tame prices and clean up balance sheet
Pedestrians outside the Central Bank of Argentina in Buenos Aires.
Photographer: Anita Pouchard Serra/BloombergThis article is for subscribers only.
Argentina cut its key interest rate for the third time in three weeks as officials bet on a sustained slowdown in consumer prices and race to shrink the central bank’s interest-bearing liabilities.
Policymakers lowered the benchmark rate to 50% from 60%, according to a statement released Thursday that cited a significant easing in price pressures over recent months.