Latinnews Daily - 17 January 2018

Argentina: The central bank (BCRA) has cut its 35-day benchmark interest rate (Lebac) by 150 basis points to 27.24%. The rate cut comes after BCRA cut the main Lebac rate by 75 basis points to 28% earlier this month after coming under mounting pressure from the government led by President Mauricio Macri to reduce the sky-high interest rates in order to stimulate increased domestic economic activity. The adjustment of the 35-day Lebac rate suggests that BCRA is poised to announce another cut of the main Lebac rate after its monetary policy meeting (Copom) due on 23 January.

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