BUENOS AIRES – Argentina’s central bank said it hiked the country’s benchmark interest rate by 200 basis points to 49% as it tries to rein in surging inflation, Reuters reported.
The monetary authority’s move came after the government published inflation data earlier in the day showing inflation in the 12 months through April running at a 58% pace.
The 6% increase in consumer prices in April from the previous month landed slightly above analysts’ forecast for a 5.9% gain.
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