Argentina’s central bank raised interest rates by 6% to 97% on Monday in a bid to curb rising inflation. and maintain the stability of the peso
The consumer price index (CPI), which measures inflation on consumer spending, rose 109 percent in April year on year.
Month on month, the CPI rebounded 8.4% in April, the highest level in decades. and higher than analysts’ expectations of 7.5%.
Argentina’s economy Affected by drought in the country. causing a decline in agricultural productivity and affecting exports As a result, international reserves are depleted. This left the government unable to effectively protect against the peso’s depreciation.
Analysts stated that Raising interest rates is a good measure. but it came too late And it’s still not a solution to the problem exactly. As the government is pressured to increase spending ahead of elections in October,
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