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Argentina Central Bank Cuts Rate by 300 Basis Points to 32% to Boost Credit and Investment

Dec 6, 2024, 12:14 AM

The Central Bank of Argentina has cut its benchmark interest rate by 300 basis points to 32% from 35%, in response to falling inflation expectations. This adjustment aims to stimulate credit and investment within the country. The rate for active repo transactions was also reduced from 40% to 36%. This move comes amidst a backdrop where the unofficial 'blue' dollar rate has plummeted to 1,050 pesos, and the currency gap is at its lowest since 2019.