BUENOS AIRES: Argentina’s central bank raised the country’s benchmark interest rate to 133% from 118% on Thursday (Oct 12) as inflation data came in w...
Argentina’s currency surpassed the psychological barrier of 1,000 pesos per US dollar earlier this week. – AFPpicArgentina’s central bank raised the country’s benchmark interest rate to 133% from 118% on Thursday as inflation data came in worse than forecast, 10 days before voters go to the polls to choose a new president amid a deepening economic crisis.
Argentina’s central bank is struggling to keep the benchmark interest rate in line with inflation expectations, with a central bank poll of analysts later in the day forecasting inflation to end the year at more than 180%. “It is no longer useful to raise the rate, expectations have gone away and raising it at this time is not going to contain the flight from pesos to dollars,” a national private banking manager said on condition of anonymity.
A rapid freefall of Argentina’s peso has since followed, with the currency surpassing the psychological barrier of 1,000 pesos per US dollar earlier this week as the country prepares to vote in general elections scheduled for Oct 22.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Bello stunner helps Venezuela hold Brazil, Argentina beat ParaguayThe draw sees Brazil fall to second in the standings after Argentina’s victory in Buenos Aires.
Leggi di più »
Messi still in doubt for Paraguay qualifier, says Argentina coach ScaloniBUENOS AIRES, Oct 12 ― Argentina captain Lionel Messi is still a doubt for the World Cup qualifier against Paraguay, coach Lionel Scaloni said...
Leggi di più »
Recriminations fly in Argentina as peso flounders ahead of voteBUENOS AIRES: Argentina&039;s election campaign was marked by heated exchanges Wednesday as the incumbent president pressed charges against frontrunner ca...
Leggi di più »
Higher indirect tax a viable mechanism to raise revenue: Economist.PETALING JAYA: Malaysia’s government should focus on viable tax mechanisms, such as indirect tax, to raise revenue. Barclays Corporate and Investment ...
Leggi di più »
US Senator concerned Exxon’s plan to buy Pioneer will raise costsUS senator Elizabeth Warren has called on regulators to closely scrutinise ‘this big oil merger’.
Leggi di più »
Overwatch 2 Players Raise Hell Over Moira's Pricey Lilith SkinOverwatch 2’s devilish Diablo IV collab skin costs as much as the original game did
Leggi di più »