The Argentinian national bank this week raised interest rates to 75% in a desperate bid to tamp down on the country’s still-spiraling consumer inflation rate.
The Banco de la Nación Argentina hiked the rates after national data indicated a year-over-year inflation rate of just under 80%, a crushing spike that has desperately squeezed consumers in the South American country.
The bank told Bloomberg that its board of directors “intends to reduce the level of short-term debt held by the central bank next year,” the outlet reported. Adriana Dupita, an economist with Bloomberg specializing in Latin American economies, said in the outlet’s […]
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