LatinNews Daily - 4 November 2024

*Argentina’s central bank (BCRA) has announced that it is lowering the country’s benchmark interest rate by five basis points to 35%. This is the seventh adjustment since President Javier Milei took office in December. In a statement the BCRA attributes the decision to factors including the “liquidity context and the drop observed in inflation expectations” as well as the government's “strengthening of the fiscal anchor”. Monthly inflation has continued to slow, standing at 3.5% in September down from 4.2% in August and 4.0% in July. The annual inflation rate stood at 209.0% in September, down from 236.7% in August and 263.4% in July. Growth however has also continued to slow, with the monthly estimate of economic activity (Emae) down 3.8% year-on-year in August.