Argentina raises interest rate to 97% to combat inflation

The objective of the measure is “to act immediately to prevent financial volatility from acting as a driver of inflation expectations,” the monetary authority said in a statement.

The decision implies an increase of 600 basis points in the reference rate and is the first step in a series that will be announced by the government, with incentives for consumption and food imports to contain the increase in consumer prices, which reached 8,4 .XNUMX% monthly in April.

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BC maintains interest rate despite government pressure

The Central Bank of Brazil (BCB) maintained, this Wednesday (22), the basic interest rate (Selic) at 13,75%, with the aim of reducing inflation, despite pressure from the government of Luiz Inácio Lula da Silva to reduce the cost of credit. The BCB's Monetary Policy Committee (Copom) reported its decision to leave the Selic rate unchanged for the fifth consecutive time, thus keeping it at one of the highest levels in the world. Know more! 💸

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