LatinNews Daily - 16 September 2022

In brief: Argentina’s central bank raises interest rates again

*Argentina’s central bank (BCRA) has raised the country’s benchmark Leliq interest rate by 550 basis points to 75%, up from 69.5%. This follows an increase of 950 basis points last month and marks the ninth rate hike this year. According to a BRCA statement, it was necessary to raise rates despite a slight slowdown in monthly inflation in August given that inflation remains high with respect to previous months. Annual inflation in August stood at 78.5%, with experts surveyed by BCRA forecasting that inflation will close 2022 at 95%.

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