The rate was 50%; Javier Milei took office as President on December 10, 2023, when interest rates were 133% per year
O Central Bank of Argentina returned to to go down the basic interest rate on Tuesday (May 14, 2024), from 50% to 40%. The measure occurred hours after the Index (National Institute of Statistics and Census) announced that the country’s monthly inflation closed April at 8.8%.
The monetary authority said it had “observed that the firmness of the government’s commitment to the zero fiscal deficit target increases credibility in the central anchor of the economic program and strengthens a trajectory of lower inflation expectations”. Here’s the complete of the ad, in Spanish (PDF – 83 kB).
The president of Argentina, Javier Milei, took office on December 10, 2023, when interest rates were 133% per year.
The April inflation result released on Tuesday (May 14) represents a slowdown of 2.2 percentage points compared to March, when it reached 11%. It was the 4th consecutive month of decline. Here’s the complete of the report (PDF – 1 MB, in Spanish).
The sectors of housing, water, electricity, gas and other fuels (35.6%), communication (14.2%), clothing and footwear (9.6%) were those with the highest monthly change.
Argentine annual inflation rose to 289.4% in April – the highest level since February 1991, when inflation was 582%. The increase was 1.5 percentage points compared to the 287.9% recorded in March.
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