BUENOS AIRES –
Argentina’s central bank will keep the benchmark interest rate at 133%, it said in a statement Wednesday, and impose a new “creeping parity” that will gradually weaken the peso by 2% each month after a sharp devaluation planned.
The statement comes after the new libertarian president’s economy minister Javier Milei on Tuesday presented a package of economic measures to combat a deep budget deficit, triple-digit inflation and a shortage of foreign exchange reserves.
“All monetary policy tools will aim to achieve monetary stability and reduce inflation,” the central bank said.
(Reporting by Adam Jourdan)