Argentina's central bank keeps key interest rate at 60%

Wednesday, September 12th 2018 - 08:55 UTC

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Argentina's central bank kept its key interest rate on Wednesday at 60%, one of the highest in the world, following a surprise hike two weeks ago after the peso plunged. Central bank officials said in a statement that inflation accelerated in August and continues to do so September, citing high-frequency data. Read full article

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Jo Bloggs
CFK’s INDEC would have rounded that figure down to 15%.
Sep 12th, 2018 - 10:18 pm - Link - Report abuse +1
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Enrique Massot
Of course, not one in their right mind would expect any productive activity to survive 60 per cent reference interest rates that translate into rates of 100 per cent or more for day-to-day banking deals.

And so this ghost of a government whose decisions are now made in Washington keeps walking toward the most absolute nothingness, with help from an opposition that is either incapable of presenting an alternative or just waiting for total decomposition to set in.

Thus ends the dream of setting Argentina's clock back seven decades to a golden era of riches for a few and misery for the most.
Sep 14th, 2018 - 04:01 pm - Link - Report abuse 0
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