South American nation hikes interest rate to 81% ...News

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South American nation hikes interest rate to 81%
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Argentina’s move aims to contain inflation that soared past 100% in March Argentina now has one of the highest policy rates in the world, after the country’s central bank increased its benchmark interest rate by 300 basis points on Thursday, to 81%, according to the figures on the regulator’s website. The country’s monetary authority made the bold step after inflation soared past expectations in March, exceeding 104% year-on year. The jump means the price of many consumer goods has more than doubled since the same period a year ago. Buenos Aires also posted a $1.1 billion trade deficit last month, the widest in ne

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