Saturday, September 13, 2025

Latest

Argentina’s Central Bank Hikes Rates by 950 Basis Points as Inflation Spirals Out of Control

Argentina’s central bank urgently raised borrowing costs by a staggering 950 basis points this week, in face of 20 year-high inflation that continues to spiral out of control.

The Central Bank of Argentina hiked its benchmark interest rate for the 28-day term from 60% to 69.5% on Thursday, merely two weeks after delivering an 800 basis point increase amid a government cabinet overhaul that appointed a new economy “superminister.” The colossal rate hike comes after latest inflation data showed consumer prices jumped 7.4% in July, bringing the country’s annual inflation rate to a 20-year high of 71%.

Argentina’s central bank said the unprecedented increase in borrowing costs “will help reduce inflation expectations for the remainder of the year and consolidate financial and exchange stability,” while also bringing interest rates closer “to a positive terrain in real terms.” Argentina’s economy has been plagued with catastrophic debt levels as well as a government addicted to overspending; according to sources cited by CNBC, the country’s inflation rate is expected to hit 90% by the end of 2022.

The latest figures come at a dismal time for other countries in the region as well: Mexico’s annual inflation rate jumped to 8.15% in July— the highest since December 2000, prompting the country’s central bank to raise rates by 75 basis points to 8.5%.


Information for this briefing was found via CNBC and Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Jerome Powell Hikes Rates 75 Basis Points for Fourth Consecutive Time

The Federal Reserve once again delivered the fourth consecutive 75 basis-point rate hike on Wednesday,...

Wednesday, November 2, 2022, 02:47:00 PM

Is the Federal Reserve Worried Markets Aren’t Taking its Aggressive Policies Seriously?

The take-home message from the Federal Reserve’s December policy meeting suggests policy makers are growing...

Thursday, January 5, 2023, 07:29:00 AM

Argentina: Newly-Elected President Javier Milei Promises To Dollarize Economy

Javier Milei secured victory in Argentina’s presidential elections, signaling a shift to the right amid...

Monday, November 20, 2023, 10:57:00 AM

US Inflation Rises For Second Consecutive Month, CPI Increased By 0.6% In July

As the US grapples with a severe recession and continued soaring unemployment numbers, a slight...

Wednesday, August 12, 2020, 02:01:17 PM

Canada’s Big 6 Banks All Calling for 50 Basis-Point Hike as Inflation Goes Berserk

It’s official: inflation has gotten so out of control, that all six of Canada’s major...

Sunday, April 10, 2022, 03:13:00 PM