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Argentina’s central bank will maintain its interest rate at 133%


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)

Gérard Truchon

An experienced journalist in internal and global political affairs, she tackles political issues from all sides
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