Argentina raises interest rates to 40%

ArticleChange of moneyMay 14, 2018 - 9:47:22 AM

Argentina's central bank has raised interest rates for the third time in eight days as the country's currency, the peso, continues to fall sharply.

The bank hiked rates to 40% from 33.25%, a day after they were raised from 30.25%. A week ago, they were raised from 27.25%. The rises are aimed at supporting the peso, which has lost a quarter of its value over the past year. Analysts say the crisis is escalating and looks set to continue…

Source:BBC Report

On the same subject